STAY HOME. KEEP GROWING! 50% discount until 1 April on InfraPPP's project finance e-learning courses
Ontario's Northern College has launched a Request for Proposal (RFP) process for qualified experienced parties to design, build, finance and operate a 60- 70 bed student housing facility.
Northern College will retain ownership of all its campus lands. As a result, the successful proponent is expected to enter into a long term land lease arrangement where the new student residence would be constructed to meet the College's growing demand. The College commits to designate a parcel of campus land to build student housing to accommodate 60/70 students. Due to anticipated growth, this part of the project is to be considered as Phase I. The successful Proponent will design, finance, construct and manage the building erected on the site and will be entitled to 100% of all revenue generated within the demised area of the leased property.
The College seeks not to underwrite any revenue or occupancy guarantees or seeks to limit any such guarantees. The College will also take no operational or maintenance responsibilities for the development.
Proponents may suggest variations and alternative structures as innovations. Northern College is required to obtain Board of Governors, Municipal and Ministry of Training, Colleges and Universities approvals prior to proceeding with a project which involves binding policy directives for the lease of College property.
Proponents are asked to submit a design that will blend in with the existing buildings on Campus.
Room rental rates shall not exceed the average rent of comparable college student residences in Northern Ontario.
The deadline for submission of answers to the RFP is 21 February 2014.
See tender notice: