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  #1  
Old Posted Feb 6, 2011, 4:09 PM
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Red face TORONTO | 245 College Street: UofT Residence | ~80 m | 24 fl

Universities team up with private sector to solve student housing woes

University of Toronto looks beyond its own coffers to make $120-million residence a reality

http://www.theglobeandmail.com/news/...rticle1639064/


The University of Toronto plans to build a condo-style residence with funding from a private equity firm.
(Diamond and Schmitt Architects)


David Lehberg, president and CEO of Knightstone Capital Management.
If the deal to fund a residence for the University of Toronto goes
through, Knightstone would collect payment from the students,
and pay the university a cut as rent. Sarah Dea/The Globe and Mail


Steve Ladurantaye
Real Estate Reporter — From Wednesday's Globe and Mail
Published on Wednesday, Jul. 14, 2010 3:00AM EDT
Last updated on Wednesday, Jul. 14, 2010 4:29PM EDT


Canadian universities are turning to the private sector to solve their campus housing problems.

They are looking at adopting an American trend that has seen dozens of schools partner with private equity firms to construct condominium-style buildings that fill the need for student living and also provide investors with the types of returns generally associated with apartment complexes.

The University of Toronto has quietly set a plan in motion that would see a new 30- to 40-storey residence built next to its downtown campus and funded by a private equity firm, which would make it the first university in Canada to erect a large tower offsite with private money.

Knightstone Capital Management Inc. has agreed to finance and build the residence, at an estimated cost of $120-million. The Toronto-based company plans to raise money from private investors, such as pension plans and private equity funds, to complete the tower.

Universities have expanded dramatically in the last decade, but haven’t been able to keep pace with residence space because funding is usually directed toward new laboratories, classrooms and research. Typically, new residences have been paid for by additional student fees.

Simon Fraser University in British Columbia is among the schools seeking private investors for public residences. Trent University in Peterborough, Ont., has floated the idea of building a private residence on campus property for several years, but has faced stiff student opposition.

More than 75,000 students attend the University of Toronto’s three campuses, but the school can only provide housing for 7,400. That leaves much-coveted international students scouring a new city for accommodations, posing a challenge for recruiters...

...The U of T tower – which has yet to win approval from city hall but whose owners would like to start construction in the spring – would be just east of Spadina Avenue on College Street. It must overcome several obstacles, however, with the city needing to overturn height and density restrictions before construction can proceed.

The university owns half of the site, Knightstone owns the other. Knightstone would collect payment from the students, and pay the university a cut as rent. There would be rooms for up to 1,400 students, and units would cost the same as those currently offered several blocks away at the university’s 1,050-room Chestnut Residence, which is about $10,000 per school year for a single room.

Managers would also offer residence spots in the building’s two- or four-bedroom units to students from Ryerson University and York University...

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Last edited by yaletown_fella; Feb 6, 2011 at 6:19 PM.
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  #2  
Old Posted Feb 6, 2011, 6:20 PM
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Elevations







Contextual Renderings

Looking South



Looking North

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  #3  
Old Posted Mar 2, 2011, 11:10 PM
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Well, I'll be very surprised if this one is approved.
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  #4  
Old Posted Oct 16, 2011, 2:57 PM
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Scaled down to a shorter, although more appropriate height.

Quote:
Originally Posted by Automation Gallery on UrbanToronto View Post

STUDENT RESIDENCE TOWER, RETAIL
Proj: 9132020-3
Toronto, Metro Toronto Reg ON
PREPARING PLANS
University of Toronto Residence Building, 240-245 College St, Spadina Ave, M5T
$35,000,000 est
Note:
This project is very preliminary. Architect has resubmitted city council rezoning applications. The scope of work is under review and is subject to change. Schedules for working drawings, tender for general contractor and construction pending approvals. Further update spring 2012.
Project:
proposed construction of a student residence building for the University of Toronto. The building will feature space for 570 beds in 230 suites that will be one to four-bed units.
Scope:
279,861 square feet; 24 storeys; 230 units; 6 acres
Development:...New
Category:...Apartment bldgs; Retail, wholesale services

http://www.dailycommercialnews.com/c...region=ontario
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  #5  
Old Posted Oct 22, 2011, 12:23 PM
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Yep, officially lowered to 24 storeys.

Check link for new elevation drawings and details:

http://www.toronto.ca/legdocs/mmis/2...file-41557.pdf
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  #6  
Old Posted Oct 22, 2011, 5:55 PM
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24 stories is pretty reasonable for that site. I'm liking the design. UofT has really stepped up their game in terms of residence quality compared to 10 years ago.
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Old Posted Oct 22, 2011, 6:53 PM
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At least it will still have the jumbled look.

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  #8  
Old Posted Oct 22, 2011, 7:24 PM
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Hopefully this building will usher in new initiatives to rejuvenate the awful Spadina/College intersection and lame retail strip of North Chinatown. Despite being on the border of Chinatown, Kensington, South Annex, and U of T, this intersection is in pretty bad form. The non-historical, 1-2 storied buildings to the west, right up to the Burger King on Spadina should be ripe for redevelopment in the future.
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Old Posted Dec 20, 2011, 10:16 PM
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Just as I thought, this one got cut down to size. Hopefully the project can remain somewhat faithful to the original taller design.
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  #10  
Old Posted Feb 22, 2012, 4:15 AM
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Went to the meeting tonight. As expected, there was a lot of opposition and local resistance. Even at 24 storeys, this project was unacceptable to the audience. Height, massing, and shadowing were still a large issue. The building having no parking was also a huge issue with the crowd, as some students will inevitably have cars which would require permit parking and overwhelm the already short supply on the streets in the area. The group of people from Glasgow Street, just south of the proposed building, were extra NIMBY-istic because this large mass will directly loom over their small side street. Also concern about the 700 or so units/people in the residence. Issue was brought up regarding the fact the "transient" population will cause safety and garbage concerns to the area. Names such as "boarding house" were shouted out, and typical student residence problems such as partying, drinking, drugs, sleaze, etc. were shared.

Important fact disclosed was that this is a private developers' residence project, not exactly a U of T rez building. The University has a part in developing it but the management will be by the developer (Knightstone?). Locals were concerned that because since this isn't a U of T building, it would pose security and safety problems. The U of T police will not have jurisdiction within this Rez, only private security guards will maintain order. This building will be available for a student of any university/college. People thought this kind of a concept would be potentially dangerous.

Don Schmitt (from Diamond & Schmitt) and Adam Vaughan were there to address the crowd. Schmitt presented two alternate proposals. One was 24s and the other was 22s, with a slight variation at the rear of the building. The would be a lobby entrance on College Street, as well as retail space for a cafe and bookstore. I was impressed by the renderings. The new renderings do look different from the ones we've seen before though. Gone is the fritted/frosted glass. The new design features more standard, grid window. The shape of the tower is still the same though. It reminds me of original design for Cube Lofts (N-Blox?) but with more box shifting. Overall, this revised proposal looks very promising but still faces stiff opposition ahead.
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Old Posted Feb 22, 2012, 4:48 AM
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Quote:
Originally Posted by Travis007 View Post
Hopefully this building will usher in new initiatives to rejuvenate the awful Spadina/College intersection and lame retail strip of North Chinatown. Despite being on the border of Chinatown, Kensington, South Annex, and U of T, this intersection is in pretty bad form. The non-historical, 1-2 storied buildings to the west, right up to the Burger King on Spadina should be ripe for redevelopment in the future.
I've always detested that 2 story burger king building and used to sketch fantasy renders for a redevelopment of that corner.

It's too bad Schmitt scrapped the fritted glass but I trust they'll do a good job no matter what compromises will be made.
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Old Posted Feb 22, 2012, 6:05 AM
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Thanks for the update. Sounds like the original design concept is going to be watered down completely.
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  #13  
Old Posted Sep 24, 2013, 3:19 AM
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Chunkier than a KITKAT bar. Render courtesy of Automation Gallery.

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  #14  
Old Posted Dec 10, 2013, 11:39 PM
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Some better renderings.



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  #15  
Old Posted Dec 11, 2013, 2:08 AM
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It looks like it's trying hard to not be a bland box, but the architect doesn't have a good idea on how to be different and good looking.
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