GTA Construction News staff writer
Toronto Metropolitan University will double its on-campus housing capacity through a new 21-storey residence at Bond Street and Dundas Street East.
The 1,370-bed project is being developed with Cedar Podium and Unilodge Canada, with financing support from the province’s Building Ontario Fund. The residence is scheduled to open in 2030.
TMU says the development will include two classrooms on the lower level and a mix of self-contained suites, most with private washrooms. Typical units will have three bedrooms — two private and one shared — along with an eat-in kitchen. The university says the design is meant to give students the option to cook independently rather than rely on meal plans.
The residence will offer nine- and 12-month leases, which TMU says will provide more affordable options compared to the private rental market.
“Cedar Podium is proud to collaborate with Toronto Metropolitan University in delivering sustainable, high-quality infrastructure that supports the university’s long-term vision for growth and student success,” CEO Bernard Luttmer said in a statement.
Common lounges will be available on each floor, with additional study and creative spaces throughout the building.
Michael Fedchyshyn, CEO of the Building Ontario Fund, said the agency is providing about $83 million in debt financing toward the first phase of the project, which represents roughly $200 million in overall investment.
“Strategic investments like this are essential to unlocking projects that wouldn’t otherwise be feasible,” he said.
For more information visit https://www.torontomu.ca/housing/
