Forum Equity Partners Inc., a 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, Canada’s third-largest university, to design, build, finance, maintain and operate (DBFMO) a new student housing and mixed use project on York’s Keele Campus in northwest Toronto.
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.”