University of Guelph looks to improve its land with new real estate strategy
The University of Guelph has created what it calls a 'bold' real estate strategy to improve university-owned lands.
Brandon Raco, director of the university's real estate division, said the plan will create more student housing, public spaces and commercialization over the next 40 years.
Five district neighbourhoods will take shape throughout the phased development, including Dairy Bush, Wellington Woods and a Retail, Innovation and Entertainment District. It will feature nine distinct areas that span over 91 acres west of the school's campus, plus 300 acres of farmland in Puslinch, south of Guelph.
The university's board of governors approved the strategy earlier this year, and it will be developed in four phases, according to Raco.
'It was really shaped in a holistic way that sets a vision that we like to think is bold and really solve some of those issues that we know that we need to solve as it relates to housing and creating mixed-use, vibrant communities,' Raco said.
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The project is a partnership with the City of Guelph, whose role Raco describes as the 'meat and potatoes' of the initiative. He said the division has been working closely with the city, particularly its technical staff, to analyze each project.
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'If we are building student-purpose built housing, we have to interconnect into city-owned infrastructure like sewage, potable water, electrical capacity, electrical transmission and the roadways,' he said.
In a statement, the city applauded the U of G's strategy, with an emphasis on its strong partnership to shape a sustainable, vibrant future.
'The University of Guelph's commitment to lead and oversee their own purpose-built student housing projects directly on campus addresses a critical need, supporting both students and the broader Guelph community,' Mayor Cam Guthrie said.
Guthrie said the city is excited to work with the university on their project to create dynamic spaces that foster connection, growth and well-being for all.
The U of G said each project will use various funding models, with some coming from the university and others in partnership with the private sector.
Raco said the first phase of the project is expected to be approved in late 2025. He said updates and amendments on the strategy will be done every quarter in meetings with the board of governors and board of trustees.
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'You can imagine being a student or a resident of this site and being able to leave your apartment or your student rental and quickly walk and grab your groceries, then take the cow path into the core of campus and be able to have this remarkably vibrant place adjacent to where you go to school,' he said.
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