TORONTO, ON / ACCESS Newswire / February 11, 2025 / Forum Asset Management (Forum) and Campus Suites proudly announces the groundbreaking of QUAD Phase 3, the latest phase of its on-campus purpose-built student accommodations (PBSA) at York University. Developed in collaboration with York University Development Corporation (YUDC), this project builds on the success of QUAD Phases 1 and 2, which have already provided over 1,500 institutional quality beds for students at York's Keele Campus.
QUAD Phase 3 marks a significant step forward in addressing the urgent need for student housing at York University, introducing 841 additional beds across two, eight-storey buildings. The project is slated for completion by the 2026/2027 academic year, further enhancing York's ability to support its growing community of students.
This development is a milestone under Ontario's Bill 185, Cutting Red Tape to Build More Homes Act, enacted in June 2024. QUAD Phase 3 is the first student housing project in Ontario to break ground under this expedited framework, showcasing the province's commitment to addressing the housing crisis through innovative policy.
"QUAD Phase 3 builds on the proven success of the previous phases and demonstrates the strength of our partnership with York University Development Corporation and York University. We are committed to delivering purpose-built student housing that enhances the campus experience and provides students with the resources they need to thrive", says Aly Damji, Managing Partner of Forum Asset Management.
"We are thrilled to celebrate the groundbreaking of QUAD Phase 3, a testament to the power of collaboration and innovation," said Henry Morton, President of Campus Suites, "This project is an incredible opportunity to meet the growing demand for student housing while creating a community-focused environment that supports academic success and student well-being, further enhancing York's offerings by proving best-in-class housing and amenities."
The success of this initiative is the result of strong partnerships between Forum and Campus Suites, YUDC, York University, the Province of Ontario, and the City of Toronto. These relationships have been instrumental in navigating the new approval process efficiently, ensuring the timely delivery of this much-needed housing.
"At York University, we are committed to working with valued partners to ensure that our students have access to the housing they need, where they need it," says Rhonda Lenton, York University President and Vice-Chancellor. "I am confident that when QUAD Phase 3 opens, it will play an important role in helping us offer accessible options that meet the needs of our diverse student population in a connected environment that supports their success".
"I am proud for us to celebrate this important milestone," says Salima Rawji, President & CEO, York University Development Corporation. "The groundbreaking of Quad 3 not only represents us strengthening our academic mission but also showcases the power of sector partnerships and forward-thinking strategies that drive long-term success for the University and our future generations.
QUAD Phase 3 exemplifies a forward-thinking approach to student housing, incorporating modern design and amenities tailored to the needs of students and a leader in fostering community, innovation, and academic excellence. Learn more here: Quad - Student Residences - York University Housing
About Forum Asset Management
Forum is an investor, developer and asset manager operating across North America for over 28 years, focusing on real estate, private equity and infrastructure, with a strategic concentration in housing. We are committed to sustainability, responsible investing and creating value that benefits our stakeholders and the communities in which we invest, what we call our Extraordinary Outcomes.
For more information about Forum Asset Management, please visit: www.forumam.com
About Campus Suites
Campus Suites is a multi-generational family business that is a developer, owner, property and asset manager of student-oriented housing based in Toronto. It has previously developed, co-developed, or is developing almost 19,000 student housing and conventional bedroom units previously throughout the United States and, since 2012, exclusively in Canada. Total developments have a value of over $2.0 billion covering over eight million sq.ft. of residential, retail and commercial space.
For more information about Campus Suites, please visit: www.campussuites.com
About York University Development Corporation
York University Development Corporation (YUDC) incorporated in 1985 delivers real estate and development expertise to advance York University's academic mission. Guided by an independent Board of Directors, YUDC leverages specialized expertise in land use planning, real estate development and finance, land lease transactions, commercial asset management and capital project execution. With a focus on the University's long-term growth and success, YUDC plans and executes projects that are strategic, collaborative, financially sound and that contribute meaningfully to the York University community.
About York University
York University is a modern, multi-campus, urban university located in Toronto, Ontario. Backed by a diverse group of students, faculty, staff, alumni and partners, we bring a uniquely global perspective to help solve societal challenges, drive positive change and prepare our students for success. York's fully bilingual Glendon Campus is home to Southern Ontario's Centre of Excellence for French Language and Bilingual Postsecondary Education. York's campuses in Costa Rica and India offer students exceptional transnational learning opportunities and innovative programs. Together, we can make things right for our communities, our planet, and our future.
For more information about QUAD Phase 3, Forum Asset Management or Campus Suites please contact:
Contact:
Henry Morton, Campus Suites
Email: henry@campussuites.com
Sydney MacDougall, Forum Asset Management
Email: sydneym@forumam.com
For more information about York University Development Corporation, please contact:
Natalie Pastuszak, YUDC Spokesperson
Email: natalie@instdio.com
Phone: 647-417-7271
For media contact for York University, please contact:
Sandra McLean, York University Media Relations
Phone: 416-272-6317
Email: sandramc@yorku.ca
SOURCE: Forum Asset Management
