[ad_1]Renderings of Gidigaa Migizi College (top) and the new Otonabee College residence (bottom) at Trent University in Peterborough. The new buildings are expected to be open in fall 2029. (kawartha NOW collage of renderings by Diamond Schmitt Architects)The Ontario government is investing $100 million in repayable financing to support the construction of two new student residences and academic spaces at Trent University in Peterborough. Announced on Monday (October 5), this funding through the Building Ontario Fund is part of a larger $384 million financing deal that includes Trent University, the Healthcare of Ontario Pension Plan (HOOPP), and project developer Knightstone Capital Management. The Building Ontario Fund is an independent Crown agency with an $8 billion budget that collaborates with institutional investors and Indigenous communities to fund public infrastructure projects across six key areas: affordable/student housing, energy, transportation, long-term care, municipal and community infrastructure, and critical minerals. Advertisement - content continues below The province states that the new residences at Trent University will house 1,400 students and add about 134,000 square feet dedicated to academic and student activities on the east bank of Trent’s Symons Campus. “Our government is using innovative financing to unlock new investments and create new opportunities for projects that otherwise would not happen,” said finance minister Peter Bethlenfalvy in a media release. “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.” Advertisement - content continues below This announcement marks the first investment from the Building Ontario Fund alongside a Canadian pension fund. The provincial funds will be repaid once the residences are filled with students generating revenue; those repaid funds will then go towards other priority infrastructure initiatives within the Building Ontario Fund. The funding will assist in creating Gidigaa Migizi College as well as enhancing Otonabee College's existing residence. These projects aim to increase on-campus accommodations while alleviating some pressure on Peterborough’s rental market. Construction is anticipated to wrap up by August 2029, according to provincial reports. The updated timeline from Trent suggests a fall 2029 opening-a year later than previously targeted when they broke ground in June 2025. Advertisement - content continues below Gidigaa Migizi College will be Trent’s sixth college, joining Catharine Parr Traill, Champlain, Lady Eaton, Otonabee, and Peter Gzowski. The university’s colleges combine living spaces with academic facilities, dining options, and community areas. This new college honors the late Curve Lake First Nation Elder and former chief Gidigaa Migizi (Douglas Williams), who was also a professor at Trent until his passing in July 2022. His name translates to “spotted eagle” in Anishinaabemowin. The designs by Diamond Schmitt Architects along with Indigenous architectural firm Two Row Architects incorporate Indigenous design elements shaped through discussions with both Trent’s Indigenous academic communities as well as Michi Saagiig First Nations. Features include spaces for storytelling and smudging rituals along with natural materials and cultural symbols. Advertisement - content continues below The website for Trent University notes that Gidigaa Migizi College will have space for around 700 first-year students as well as classrooms, faculty offices, and student gathering spots. Its crest-designed by First Nations artist Jared Tait-shows a spotted eagle alongside a pike symbolizing Williams’ clan. The newly planned Otonabee residence aims to almost double its current capacity by adding at least 600 more beds. Together these developments are part of Trent’s housing strategy approved by its board of governors back in 2019.[ad_2]Source link
