TORONTO, ONTARIO. Following The Scion Group’s successful completion earlier this year of a student housing feasibility study for Centennial College, the College has engaged Scion again, this time to advise on selecting a third-party partner to develop a new residence on its Progress campus in Scarborough.
The contemplated new student housing community will double the number of student beds on the campus and serve as a gateway to campus from a future Metrolinx Toronto light rail transit (LRT) station. Working with the College, Scion will draft RFQ/RFP documents, develop a proposal scoring mechanism and attend interviews of prospective proponents. Professionals from Ernst & Young’s Toronto-based Corporate Finance group will assist Scion in this project.
Scion’s feasibility study, completed in September 2012, found that the College has significant demand for additional student housing on the Progress campus at sustainable rates, particularly for unit types offering more private configurations than the existing residence. “With multiple campuses serving the Greater Toronto Area, plus training and certificate programs as far away as Dubai and Australia, Centennial College has established itself as a global model for the exchange of knowledge and information,” said Jason Taylor, Scion’s Vice President for Consulting Services. “We are excited for the opportunity to continue our collaboration with the College as it increases student access to its outstanding academic and training programs.”
Centennial College is Ontario’s first community college, established in 1966, primarily serving the eastern portion of the Greater Toronto Area through four campuses and seven satellite locations. It has a record of exemplary teaching, innovative programming and extensive partnership building. Centennial is recognized as one of the most culturally diverse post-secondary institutions in Canada. Nearly 100 ethno-cultural groups are represented and 80 languages are spoken on campus.