Province invests $83M for student housing development in Toronto
AI Article Summary
The Ontario government announced a significant investment of approximately $83 million through the Building Ontario Fund to develop student housing at Toronto Metropolitan University. The first phase will include a 21-storey tower at 100 Bond Street, providing around 1,400 new student beds. This development aims to address the demand for student accommodation in Toronto.
What This Means for Canadian Contractors
This project shows how substantial government funding can address the growing need for student housing in major cities. For Canadian builders, this means potential opportunities in the residential sector, specifically in constructing high-rise developments. Contractors might also see an increase in demand for labor and prefabricated building materials as timelines accelerate to meet student occupancy needs.
