In a landmark decision, the City of Brampton has made a commitment to an investment strategy for a once-in-a-generation opportunity for a university and a centre for education, innovation and collaboration to be built in Brampton.
Following a recommendation put forward by city staff, Council endorsed, in principle, to invest up to $50M over 10 years into a new post-secondary facility, and up to $100M into a joint-use community space to support the university, business innovation and collaboration, community interaction and cultural growth.
Work has already begun between staff and the City’s partners on a memorandum of understanding, outlining the details of the partnership, and establishing a process for measuring the impact of the municipal investment.
A full report on the economic and social benefits of a new university facility and the new centre for education, innovation and collaboration is anticipated in the upcoming weeks.
Earlier reports indicated that the economic benefits of a university, including a one-time construction impact of $370 million (1,800 jobs), will eventually rise to over $220 million (1,500 jobs) per year, based on a medium-term enrollment of 5,000 students. The initial enrollment is expected to be 1,000 students.
Ryerson University, partnering together with Sheridan College, plans to develop a unique facility that combines education with innovation and collaboration – something “beyond a traditional university campus”, according to the City.
The university will offer courses in science, technology, engineering, arts and mathematics, called “STEAM”. Courses in cyber security have also been discussed to be part of the new university’s offerings.
Last October, Ontario Finance Minister, Charles Sousa, made the announcement of a $180 million fund to build two universities, one in Milton, and the second located in Brampton.
According to a staff report, the university will be located in Downtown Brampton, where local amenities and easy access to transit can better serve students. The details of the exact location are not publicly known.
Ryerson University and Sheridan College will submit their final proposal to the Province and a formal announcement is expected before the end of this year.