Updated November 18, 2011: UrbanToronto has received clarification from the University of Toronto regarding its involvement in this project. Laurie Stephens, Director of News and Media Relations at U of T states:

"It is being developed by a private developer on two parcels of land, one of which is being leased to the developer by U of T. Any student will be able to apply to live there, including U of T students and others."

The residence will be entirely funded and run by Knightstone, and the the project is not a University of Toronto residence but, in fact, will be an option offered to U of T students.

Being a student at the University of Toronto, it's clear that the St. George (downtown) campus is in drastic need of student housing. With many of it's students residing in the old collegiate-style residences (Burwash, Trinity College, St. Mike's, Innis, etc.), the campus requires additional space to house the growing number of students, both first year and upper year. To solve this issue, a new student residence had been announced, proposing a  massive 42-storey student residence located on College Street, developed by the private company Knightstone, and available to students from UofT as well as other downtown post-secondary institutions.

UofT College Street Residence, Toronto, designed by Diamond and SchmittPodium rendering for original project

The plan sparked a flurry of debate; there was no precedent in the neighborhood of Victorian-era semi's for such height, and the idea of a private sector housing corporation operating a student residence made many uneasy.

The recently submitted zoning amendment application from October 6th outlines the renewed proposal - a 24-storey tower, less than two thirds of the height originally proposed. While the new report mainly outlines the reasons for the first amendments refusal (height, density), it also gives a tentative community consultation date of December 5th, 2011. Lucky for us, it includes revised elevations of the project, providing an idea of what rumored project architects Diamond and Schmitt have up their sleeves.

UofT College Street Residence, Toronto, designed by Diamond and SchmittProposed north elevation

UofT College Street Residence, Toronto, designed by Diamond and SchmittProposed east elevation

The amendment proposes a building that appears to consist of a variety of cubes that protrude from the building, of varying height and size. The monumentality of the building is exaggerated through these large volumes, which give a unique flair to the project. If approved, the building will join the University's College Street architectural rejuvenation seen over the past few years; Norman Foster's Pharmacy Building, and architectsAlliance / Behnisch Architekten's Donnelly Centre for Biomolecular Research are two internationally recognized projects which have focused the spotlight on UofT.

We'll keep you posted on any new developments that arise with the proposal, and look forward to the project renderings to be released. In the meantime, keep an eye on the project's forum page here.