By Edward Lander and Sarah Grishpul

Toronto Metropolitan University (TMU) will be constructing a new 21-storey student residence at 100 Bond St, the school announced today at a press conference on campus. 

The building is projected to open in 2030 and is set to have over 1,370 beds—more than double the university’s current residence capacity of approximately 1,144 beds.

The building—dubbed “Bond Street Residence”—is being constructed in partnership with Cedar Podium and Unilodge Canada with $83 million in provincial funding from the Building Ontario Fund (BOF). According to a press release from the province, the building will be built in multiple phases and pre-construction is expected to begin in late 2025.

According to the press release, the residence is the first phase of an approximately $200 million investment from the BOF to expand housing at TMU.

Among the properties being redeveloped for this project is 54 Dundas St. E, the current site of the Imperial Pub, which will close on Nov. 15, as previously reported by The Eyeopener.

In addition to student housing, the building promises to include two “large” classrooms on the lower level. Unlike current TMU residences which only offer nine-month terms, “Bond Street Residence” is set to offer nine or 12-month term lengths to students. 

A typical unit in the residence will consist of three bedrooms—two private and one shared—plus an eat-in kitchen, according to the press release.

“We are grateful to our partners, Cedar Podium and Building Ontario Fund, for their collaboration in making this project possible and helping develop a central part of Toronto’s downtown core,” said TMU president Mohamed Lachemi in a press release.

The construction of the residence will see the demolition of three TMU-owned buildings across different lots, including the Creative Innovation Studio at 110 Bond St.

According to documents submitted to the City of Toronto between July 2021 and May 2024, the site at 100 Bond St. was set to be developed by Vaughan-based condo developer Bazis. Bazis also currently lists 100 Bond St. on their website and states it will be a condominium.

In an interview with CBC on Sept. 30, Toronto city councillor Chris Moise said that the developer was in partnership with the university. 

In a Global News story from Oct. 2., it is stated that the development is a “city-approved redevelopment project by Toronto Metropolitan University (TMU) and builder Bazis.”

The Eye made several attempts to speak with Moise but did not receive comment in time for publication. 

In an emailed statement to The Eye on Nov. 10, the university said Bazis is not involved in the project.

The Eye reached out to Bazis and did not receive comment in time for publication.

This is a developing story and will be updated as details emerge.