New on-campus student housing at Trent University
Name
New on-campus student housing at Trent University
Sector
Affordable Housing
Location
Peterborough, Ontario
Participation
BOF’s participation played a critical role in closing a construction financing gap and helped unlock additional investment in the project
Sponsors
Trent University, the Healthcare of Ontario Pension Plan (HOOPP), project developer Knightstone Capital Management
Building Ontario Fund invests $100 million in new Trent University student residence project
Building Ontario Fund is investing $100 million to support the development of two new student residence buildings with academic spaces and supports for students at Trent University in Peterborough.
The investment will help deliver 1,400 student beds and approximately 134,000 square feet for academic and student support spaces as part of an approximately 722,000-square-foot development. The project is designed in response to significant enrolment growth at Trent since 2014 and to strengthen the student experience. By increasing on-campus housing capacity, the project will also help reduce pressure on Peterborough’s rental market and improve local housing availability.
The project marks BOF’s second student housing investment and its first partnership with a Canadian pension fund, HOOPP. BOF is investing alongside Trent University, HOOPP, and project developer Knightstone Capital Management as part of a $384 million financing package.
BOF’s $100 million mezzanine financing investment played a critical role in closing a financing gap and attracting additional institutional capital to the project. The investment reflects BOF’s mandate to unlock priority infrastructure through responsible, commercially disciplined investments that deliver long-term public benefit.
Key facts