Development and Operating Partner - 22 Frederick Street, Kitchener, Ontario

The 22 Frederick Street RFP seeks a private or public-sector development and operating partner to complete, repurpose, and operate Conestoga College’s partially completed adaptive reuse project in downtown Kitchener. The building, originally intended for student housing and approximately 70 per cent complete, requires an estimated $12–18 million in additional capital to achieve occupancy. Through a public procurement process, the College is inviting proponents to propose either a long-term ground lease/leasehold structure or a joint venture/limited partnership model, with flexibility regarding the ultimate use of the property, including student housing, market rental, affordable housing, seniors’ housing, hospitality, or other compatible residential uses. The College’s primary objectives are to secure a financially capable partner that will contribute capital and expertise, complete the project, achieve occupancy and stabilization, maximize long-term value recovery, mitigate losses, and provide a clear pathway for future liquidity or exit while protecting the College from construction, operating, and financing risks.

Bid #: CA.107876 · RFP · FY 2026