Recapitalization Project: Oak House & Chestnut
U of T Real Estate Partnerships (REP) is exploring an asset re-capitalization partnership for both Chestnut Residence and Oak House Residence. Through a process led by Colliers, REP will seek a qualified capital partner to invest in a portion of these properties which will continue operating as student residences.
This approach allows REP to unlock capital from existing assets and reinvest those funds into priority needs across campus, including the development of additional student housing. As importantly, the University will retain full ownership of the student life experience and maintain the high standards of service, programming, and operations expected by the University community.
The following FAQs address common questions about the partnership process and what it means for students, staff, and the broader University community.
FAQ
The University has a long-standing history of using strategic partnerships to expand its housing portfolio. By seeking a partner for these properties, we are following the successful model used for other developments. This strategy allows the University to leverage external capital to build more housing while maintaining full oversight of the student experience and reinvesting all proceeds back into our academic mission.
No. The University is exploring a financial partnership model and will be seeking a capital partner for both properties. The result, similar to a refinancing arrangement, will free up funds to support new housing projects, including housing.
No, the level of service provided is not expected to decrease. The University will continue to oversee 100% of the student life experience.
Student life and facilities management will continue to be managed by the University.
The proceeds will be used primarily to support the development of new student residences.
The University is seeking a partner with experience owning or operating student residences and that is aligned with the University’s long-term vision and standards.
The University will adhere to Broader Public Service Procurement Directives to ensure an open, fair, and transparent process.
The same process for setting annual University residence rates will apply.
| There are currently no plans to redevelop either property. They will remain student residences. |
| Yes, both buildings will continue to operate as University of Toronto residences. |
| Students will continue to pay through ROSI/StarRes; no changes to payment processes are anticipated. |
| The University will continue to review and address complaints. |
| The University will continue to be responsible for all aspects of residence management, and will maintain the same level of emergency response as elsewhere on campus. |
Interested in Partnering with Us?
U of T’s Real Estate Partnerships team handles important real estate developments, acquisitions, and partnerships on behalf of the University. We take on ambitious projects that integrate innovation, AI, research, academics, retail and hospitality into our campus.
