“The Quad” Student Housing Community Will Include Student Residential Living Spaces & Retail
TORONTO, October 30, 2013 − Forum Equity Partners Inc., a leading Canadian infrastructure development and investment firm, and Campus Suites Inc., an international student housing development company, have formed a consortium, the Forum York Development Corporation (FYDC), that has concluded a definitive agreement with York University to design, build, finance, maintain and operate (DBFMO) a new student housing and mixed use project on the Keele Campus of Toronto’s York University.
The new student housing and mixed use project, called “The Quad,” when complete will be comprised of four separate buildings, each including student residential space with retail at-grade. The plans include approximately 800 beds in suite style units, with a full amenity and student life package. The student housing units will be made available only to York University and Seneca@York students. The Quad boasts central courtyards, landscaped plazas, and pedestrian-friendly walkways, all right next to the academic core of York’s Keele Campus. York University will lease the development site, which is currently an underutilized parking lot, to FYDC.
“We are excited to take our extensive development experience and bring it to the Canadian marketplace,” said Henry Morton, President of Campus Suites and a York University alumnus. “The Quad will be one of the preeminent, purpose-built student housing sites in the country. We have developed a relationship with York University and its community that ensures that the needs of all stakeholders were heard and incorporated in the final designs.”
“It is our expectation that many of the units will have ensuites as well as attractive, modern furniture,” said Morton. “The buildings will have management staff on-duty 24/7, a full amenity package including cardio and workout centres, multi-purpose rooms, electronic and physical gaming centres, business facilities and study rooms. Safety-conscious design, including access control, will also be incorporated into all facets of the building. ”
“We welcome the opportunity to work with with one of Canada’s leading universities, York University, and the surrounding community on this new and exciting project. We believe this project with York University will become a model for other leading universities across Canada seeking to provide a top quality student experience that complements and supports the universities’ core academic mission,” said Richard Abboud, President and CEO of Forum Equity Partners. “The Forum-Campus Suites team is confident we will create an exceptional student community that will enhance the student experience at York by providing a superb and safe student living space.”
“The Quad student housing community will benefit York’s students, and is part of our broader housing strategy of reinvesting in our existing residences and working with experienced private firms to deliver new beds,” said Gary Brewer, Vice-President Finance and Administration of York University. “This project will deliver high-quality new housing on the doorstep of our classrooms.”
York University is Canada’s third-largest university and is a leading interdisciplinary research and teaching institution. With two campuses located in the heart of the Greater Toronto Area, the University serves 55,000 students.
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About York University
York University is helping to shape the global thinkers and thinking that will define tomorrow. York U’s unwavering commitment to excellence reflects a rich diversity of perspectives and a strong sense of social responsibility that sets us apart. A York U degree empowers graduates to thrive in the world and achieve their life goals through a rigorous academic foundation balanced by real-world experiential education. As a globally recognized research centre, York U is fully engaged in the critical discussions that lead to innovative solutions to the most pressing local and global social challenges. York U’s 11 faculties and 28 research centres are thinking bigger, broader and more globally, partnering with 288 leading universities worldwide. York U's community is strong − 55,000 students, 7,000 faculty and staff, and more than 250,000 alumni.
About Forum Equity Partners Inc.
Forum is a leading Canadian infrastructure development and investment firm specializing in PPPs and other projects involving the public sector. Forum has established itself as a leader in infrastructure development and investment, with one of the most successful track records in the industry. Recent Forum PPP projects include the BC Housing Single Room Occupancy (SRO) Renewal Initiative in downtown Vancouver, BC; the Billy Bishop Toronto City Airport Pedestrian Tunnel in downtown Toronto; the South West Detention Centre in Windsor, Ontario; the Pre-Trial Client Services Centre in Surrey, BC; and the CAMH Mixed-Use Development in downtown Toronto. In 2013 and 2011, Forum received the Silver Award and the Gold Award, respectively, for Project Financing from the Canadian Council for Public Private Partnerships.
About Campus Suites / Suite Life Group
The Campus Suites / Suite Life Group was founded based on the core principals of knowledge, dedication, integrity, and passion. With more than 30 years in multi-family/student housing development and management, Campus Suites / Suite Life Group has experienced the full spectrum of the industry and has developed a true passion and unique hands-on-approach to its operational strategy. At present, they have developed over 11,000 beds and have managed, in addition to its owned portfolio, several thousand additional beds. Campus Suites have won awards in virtually every market in which it has developed and / or managed for the Best Place to Live. For more information, please visit www.campussuites.com
Media Contact:
Janice Walls, Media Relations, York University, 416 736 2100 x22101 / wallsj@yorku.ca
