The Morningside and Ellesmere intersection is becoming the site of a Scarborough revitalization. The intersection is just west of the University of Toronto Scarborough — which will be hosting part of the Pan Am Games next summer—and which is spearheading the area's growth. In preparation for the games, the school and the City are building an Aquatic Centre and Field House, to be called the Toronto Pan Am Sports Centre. The $248 million facility, the largest investment in Canadian amateur sport for the games, opens this fall and is attracting more attention, developers and people to the area. 

Rendering of Toronto Pan Am Sports Centre, image courtesy of the City of Toronto

One of these investors is Lemine Investment Group, which, along with Devron Developments is introducing The Academy Condominiums by the University to Morningside and Ellesmere. This project aims to provide housing to to this area which is in great demand for new options as the area continues to develop. The Academy will rise 26 storeys and have 339 suites starting at $188,800. Its location offers access to big-box shopping, Morningside National Park and Rouge Valley Centenary hospital. 

Rendering of the Academy Condominiums by the University, image courtesy of Lemine Investment Group

This location is  will certainly draw for investors who might want to rent or lease units since the University of Toronto Scarborough is in the middle of a housing shortage with 12,000 students and only 765 beds, all of which are given to first-year students. This shortage is only expected to increase as the projected enrolment at UTSC is expected grow by another 5,000 students over the next 20 years. This increase is in expected in part due to UTSC being the only U of T campus to offer a co-op program and in particular a Business Management co-op program. The university is also currently constructing a $65 million Environmental Science and Chemistry building, scheduled to open in 2015, which will draw more students for the area as well. 

UTSC Environmental Science Building, image courtesy of Diamond Schmitt Architects

Currently most UTSC students commute from other locations in the GTA, but many desire to live nearer to where they study. The desire for closer accommodation is especially pressing for international students who pay tuitions upwards of $40,000 per year. This makes The Academy and ideal choice for many students, staff and faculty who work and study at UTSC and the nearby Centenary hospital. Aside from providing another living option for these UTSC students, Lemine is also collaborating with the UTSC Co-op office to employ students who are working through their educational programs. 

We will continue to keep an eye on this story and provide updates as the project develops. In the meantime, you can get more information on The Academy in our dataBase file, linked below. Want to get involved in the discussion? Click on the associated Forum thread links, or leave a comment in the section at the bottom of this page.