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.
The unique student housing project is one of five winners across Canada selected for breaking new ground in how P3s are built, financed or deliver services, as well as their impact on boosting the economy, cost savings and creating more vibrant, inclusive communities. Read more
“These five projects represent the hard work and dedication of thousands of people across Canada who are making these critically important infrastructure projects a reality. Their exceptional leadership and innovative thinking are what continues to distinguish the Canadian P3 model as globally best-in-class,” Romoff said.
The partners involved in the Quad include York University and Forum-Campus Suites.
Quotes:
“The project was conceived to enhance student experiences while ensuring partners achieved their objectives. We now have a modern, safe and amenity-rich housing option, and student housing operator, that allows York to maintain its asset and generate income for its academic mission.”
- N. W. (Bud) Purves, President of York University Development Corporation and York University’s representative administering this project
“The Quad project achieved all stakeholder objectives. We are honoured to partner with York University and look forward to carrying this success forward during the development’s next phase. This project exemplifies the potential of P3s to deliver better and more innovative service models.”
- Henry Morton, Forum-Campus Suites co-lead
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 P3 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.”
About the Canadian Council for Public-Private Partnerships
Established in 1993, CCPPP is a national not-for-profit non-partisan, member-based organization with broad representation from across the public and private sectors. Our mission is to collaborate with all levels of government and Indigenous communities to enable smart, innovative approaches to public infrastructure development and service delivery that achieve the best outcomes for Canadians. The Council is a proponent of evidence-based public policy in support of P3s, facilitates the adoption of international best practices, and educates stakeholders and the community on the economic and social benefits of public-private partnerships.