PETERBOROUGH-The Ontario government says it is investing $100 million through Building Ontario Fund (BOF) to build two new student residences and new academic spaces at Trent University.
Officials say the project will provide 1,400 students with on-campus housing options along with approximately 134,000 square feet of new academic and student space to support the university’s long-term growth.
“Our government is using innovative financing to unlock new investments and create new opportunities for projects that otherwise would not happen,” said Peter Bethlenfalvy, Minister of Finance. “By working with institutional and private-sector partners, we are helping Trent University expand its campus and create more housing options for students while strengthening the local economy and supporting long-term growth in Peterborough.”
The two new student residences, Gidigaa Migizi College and Otonabee College, are located on the East Bank of Trent University’s Symons Campus. The addition of 1,400 student beds will expand Trent’s accessible and supportive living environment while also easing pressure on the local rental market. The development will also feature modern and state-of-the-art amenities including lecture halls and student support spaces. Construction of the project is expected to be completed in August 2029.
“Protecting Ontario’s future workforce starts with supporting student success inside and outside the classroom,” said Nolan Quinn, Minister of Colleges, Universities, Research Excellence and Security. “By expanding academic spaces and student residences at Trent University, our government is ensuring that more students can focus on getting the skills they need to launch rewarding, good-paying careers while continuing to support Trent’s long-term growth and sustainability.”
The $100 million investment will be repaid after the residences are occupied and generating revenue, then reinvested into other projects across six priority areas including affordable housing, energy, transportation, long-term care, municipal and community infrastructure, and critical minerals according to the Ontario government.
“Students come to Peterborough to learn, build connections and begin the next chapter of their lives,” said Dave Smith, MPP for Peterborough-Kawartha. “This investment will expand the university’s campus and provide new academic, student and residential spaces that will enhance the student experience and support Trent’s future growth.”
