May 7, 2024 – Algoma University unveiled plans today to construct a new 500-plus bed student residence in Brampton. The move aims to alleviate the housing shortage for students.
“Every student deserves a safe, affordable place to call home,” said Algoma University President Asima Vezina.
The residence, located at Park Street and Nelson Street West, will offer between 500 and 600 beds in single and double bedrooms.
Expected to open for the 2028-29 school year, the project received praise from all 3 levels of government.
Brampton Mayor Patrick Brown commended the other levels of government for stepping up, and lauded the initiative as a step forward for student welfare.
“Why am I not surprised that the first academic institution who are ready to work collaboratively with government to meet this challenge [of housing], is Algoma. This is exactly what we hoped for in this city.”
The development aims to meet the growing demand for student housing. “Student access to housing is vital for community well-being,” emphasized Steve Orsini from the Council of Ontario Universities.
With fees ranging from $700 to $1,300 per month, the residence will be exclusive to Algoma University students.
The project reflects Algoma University’s dedication to fostering student success and community engagement.
Watch the full press conference here:
Algoma and Student Residence Brings Economic Impact
The new student residence project by Algoma University is not just about providing housing; it’s a catalyst for economic growth in Brampton. With projections indicating a staggering $1.5-billion economic impact in the city in the coming years, the university’s investment will significantly bolster local businesses and employment opportunities. Additionally, the annual economic contribution exceeding $280 million underscores the long-term sustainability of this initiative. Algoma University’s commitment to Brampton extends beyond education, becoming a cornerstone for economic prosperity in the region.