uToronto posts agreement on private residence development online

May 31, 2012

To address the complaint by local residents' associations over secrecy in its agreement with a private developer to build a highrise student residence, the University of Toronto has posted online a copy of the agreement. Pressed to prevent the developer from appealing to the Ontario Municipal Board (OMB) over a zoning application, uToronto says the agreement makes it clear that Knightstone Capital Management is the primary developer of the site, and that it cannot stop the referral to the OBM without breaking the agreement. There is growing pressure on uToronto by the residents' associations to back out of the deal. The neighbourhood groups are seeking legal advice to review the terms of the agreement. uToronto Statement | Toronto Star