York Regional Council authorized a funding agreement to contribute up to $25 million toward the building of a university campus in the City of Markham.
“York University’s Markham Centre Campus is a significant milestone for York Region’s academic and economic future,” said York Region Chairman and CEO Wayne Emmerson. “When complete, the new campus will play an essential role in our economic growth by attracting new residents and businesses. Our business sector will also benefit from the number of students available to the workforce for work placements and internships.”
The first phase of construction includes a 400,000-square foot, 10-storey building to accommodate 4,200 students and 20 degree programs. These programs will help meet the needs of York Region’s growing technology sector. Future plans for the campus include an expansion to serve between 10,000 and 20,000 students. The new campus will help alleviate post-secondary living and transportation costs for residents. Businesses will have access to local talent and research collaboration opportunities.
“This represents an investment in our people, the economy and the future,” said Town of Richmond Hill Mayor David Barrow, Chair of Finance and Administration. “Enhancing the post-secondary and research presence in York Region has long been identified as an important strategic priority for Regional Council.”
Additional funding commitments for the campus include a $127-million contribution from the provincial government and just over two hectares of land valued at approximately $27 million donated by the City of Markham. York University is also raising funds for this important project from its alumni and friends as part of Impact – The Campaign for York University.
The Regional Municipality of York consists of nine local cities and towns, and provides a variety of programs and services to 1.2 million residents and 51,000 businesses with 620,000 employees. More information about the Region’s key service areas is available at york.ca/regionalservices.
Photo Credit: York University