The North Toronto Collegiate Institute (NTCI), Toronto, Canada

Project Summary:

Background

The Toronto District School Board (TDSB) was struggling to fulfill its mandate due to limited funds and land availability. One immediate priority was rehabilitating the NTCI, a public high school founded in 1912 with aging and deteriorating facilities. TDSP recognized that NTCI occupied a strategic location in midtown Toronto with direct access to public transit and a vibrant retail main street. The strategic location motivated TDSP to leverage private investment to deliver the project.

Project Structure

The redevelopment of the school was made possible through a unique PPP between the TDSB and a private developer, Tridel. Tridel was chosen from among ten bids received for the project. A portion (0.7 acres) of the school grounds was sold to Tridel for CAD 23 million (USD 17 million). The proceeds from the sale then used to fund part of Tridel’s investment in the new school building.

Put differently, Tridel received this 0.7-acre portion of the project site in return for its USD 17 million capital investment in the new school. Tridel would then use this land for profitable, residential developments to recoup its investment.

The total cost of constructing the school was CAD 52 million (US$ 39 million). Tridel was able to obtain financing for the project by leveraging its residential developments. As the building was designed to LEED standards, innovative green loan financing was obtained, based on utility payback and lifecycle costing. TDSB also provided additional funds for the completion of construction of the school, and alumni contributed funds of approximately CAD 300,000 (USD 225,700) to pay for the school heritage courtyard. The project also helped in clearing a CAD 52 million (USD 39 million) capital deficit from TDSB’s accounts.

Lessons Learned

The rebuilding process began in 2005, and the new school was occupied in 2010. The school facility has about 14,500 m2 of floor space, and the two residential towers have 46,500 m2. The four-story school building is designed to accommodate 1,200 students and includes science, art, music, and drama classrooms, as well as a 600-seat theatre, library, and triple gymnasium. There is also an outdoor playing field on the site, which is used by the school and accessible to residents and the general public.

The project has been praised for its participatory design approach, which involved input from a number of stakeholders, including councilors, representatives of the local community, NTCI alumni, students, parents, the school board, the developer, and architects. Decision-making was done based on maximum value-generating propositions for the school, the developer, and the community at large.¹

Footnote 1: Source(s): http://digitool.library. mcgill.ca/webclient/ StreamGate?folder_ id=0&dvs=1548402 095467~ 429 accessed 25 January 2019

https://www. thestar.com/life/ parent/2010/09/05/ new_north_toronto_ collegiate_opens_ sharing_space_with_ condo_towers.html accessed 25 January 2019

https://canada. constructconnect. com/dcn/news/ others/2011/04/ tridel-builds-newnorth- torontocollegiate- instituteincorporating- featuresfrom- original-1904- school-dcn044128w accessed 25 January 2019.