A hot rental market across Canada is squeezing postsecondary students, with universities and private companies trying to meet growing demand
A hot rental market across Canada is squeezing postsecondary students with universities and private companies tryingUniversities have been adding new residence spaces, with several new buildings either ready to open or under construction at Canadian campuses.
But the report suggests that the need for new units could still outstrip supply, particularly if international enrolments continue to grow.The University of Prince Edward Island last week suggested that students who haven’t yet secured accommodation should not travel to the province and may want to consider deferring enrolment for a term. UPEI said its residence wait list was more than 400 people, with a new building not expected to be ready until 2023.
The university is in the process of building two new residences in conjunction with a private company, Knightstone Capital, one with more than 600 beds aimed at graduate students and located a few kilometres from campus, and a second with more than 1,300 beds adjacent to campus. The new buildings will bring the university’s residence offerings to about 6,000, on a campus with more than 36,000 full-time students.put it, student housing offers superior returns compared with other asset classes.
Jessica Look, president of the Ontario Undergraduate Student Alliance, said the expansion of international student places has not come with a proportional investment in housing. And with more students wanting to live near campus this year as pandemic restrictions are lifted, students are struggling to find something affordable at a reasonable distance, she said.
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