TORONTO, Oct. 23, 2018 (GLOBE NEWSWIRE) — The Quad at York University — one of the largest student housing P3 endeavours ever undertaken — in Canada has won silver in this year’s National Awards for Innovation and Excellence in Public-Private Partnerships.
Presented by The Canadian Council for Public-Private Partnerships (CCPPP) since 1998, the prestigious award will be handed out at CCPPP’s 26th annual conference – P3 2018 – on Monday, November 5 in Toronto at the Sheraton Centre Toronto Hotel.
“CCPPP and its members congratulate the team involved in the Quad at York University on winning silver for service delivery in the 2018 National Awards for Innovation and Excellence in Public-Private Partnerships,” said Mark Romoff, president and CEO of CCPPP.
Quad at York University (Service Delivery Award): Every student knows how important it is to be close to campus to optimize time for classes, research and studying. In August 2017, York University opened the first phase of Quad, offering much-needed apartment-style accommodations for more than 800 students in Toronto.
The project is among the largest student housing P3 endeavours ever undertaken in Canada and uses a model that freed York from risks associated with capital costs, operations and maintenance, enabling the university to focus its resources on its academic mission.
Under the agreement, Forum-Campus Suites operates and maintains the new housing on land leased from the university, and York ensures the needs of its students are met by providing guidance on the private sector’s operations. In addition to lease revenues, York also benefits from additional payments based on the success of the project.
Designed with the student in mind, the P3 model has created “a real partnership at York that has resulted in a purpose-built community that provides a live/work/play environment with significant student amenity space. This environment has led to quick improvements in how and where services are provided to the benefit of busy students,” the awards committee noted. “The Quad P3 could prove a useful model for similar social housing projects in municipalities and universities across Canada.”