TORONTO — November 13, 2025. The Ontario government is providing approximately $83 million through the Building Ontario Fund (BOF) to support a new student residence development at Toronto Metropolitan University (TMU), aiming to address housing pressures in downtown Toronto.
The first phase of the project will construct a 21-storey residence at 100 Bond Street, adding nearly 1,400 student beds and more than doubling TMU’s on-campus housing capacity. According to the province, the new residence will offer rental rates below Toronto’s market average.
The development is a partnership between the provincial government, TMU and Cedar Podium Investment Management, and marks BOF’s first investment in student housing. Pre-construction is expected to begin in late 2025.
The Building Ontario Fund supports major projects in areas including affordable housing, energy, transportation and community infrastructure. The province says increased student housing supply will help ease rental pressures while supporting the operations of publicly funded postsecondary institutions.
TMU President Mohamed Lachemi, BOF CEO Michael Fedchyshyn, and Cedar Podium CEO Bernard Luttmer said the project will expand affordable housing options and contribute to TMU’s long-term campus development.（LJI by Rita)
