PETERBOROUGH, October 5, 2026 —The Healthcare of Ontario Pension Plan (HOOPP) is pleased to participate as a key partner in developing new student housing and academic spaces at Trent University — alongside Building Ontario Fund (BOF), Trent University, Knightstone Capital and our financing partners — to help deliver 1,400 new student beds on the university’s Peterborough campus.
Earlier today, representatives from HOOPP joined our partners on campus, where the $384-million financing package will support the development of two new flagship complexes: Otonabee College Residence and Gidigaa Migizi College Residence. The approximately 134,000-square-foot development marks BOF’s first-ever financial partnership with a Canadian pension fund.
“Ontario continues to offer compelling investment opportunities that support communities and generate long-term returns for our members,” said Annesley Wallace, President and CEO of HOOPP. “This project will expand access to student housing, support Trent University’s growth, and strengthen the Peterborough community. We are proud to partner with Building Ontario Fund, Trent University, and our financing partners on this important investment.”
Trent’s Peterborough campus is home to the Trent/Fleming School of Nursing, one of the university’s most prestigious programs and a top choice for students entering the healthcare industry. Many of the students expected to occupy these residences are training to become the nurses, healthcare workers and allied professionals who will go on to work at the hospitals and community health organizations across Ontario that HOOPP serves. By helping expand and modernize Trent’s on-campus housing, HOOPP is supporting the conditions those students need to succeed today, while investing in the pipeline of healthcare talent that keeps Ontario’s system running tomorrow.
HOOPP is a long-standing, at-scale investor in Canadian student housing, with projects in Vancouver, Guelph, Hamilton, Toronto, Kingston and Montreal. This development builds on that momentum. Investments like these deliver stable, inflation-resilient, risk-adjusted returns for HOOPP members, while contributing much needed supply to Ontario’s student housing market.
The investment also reflects HOOPP’s ongoing commitment to domestic investing by injecting capital into projects that meet real needs here at home while delivering strong financial results for our members. This development is a clear example of how public and private organizations can work together to unlock investment in Ontario, while delivering lasting benefits to the communities that HOOPP serves.
Excavation commenced in 2026 and construction is scheduled for completion in August 2029.
About the Healthcare of Ontario Pension Plan
HOOPP serves Ontario's hospital and community-based healthcare sector, with more than 870 participating employers. Its membership includes nurses, medical technicians, food services staff, housekeeping staff, physicians and many others who provide valued healthcare services. In total, HOOPP has more than 504,000 active, deferred and retired members.
HOOPP is fully funded and manages a highly diversified portfolio of $132 billion in assets that span multiple geographies and asset classes. HOOPP is also a major contributor to the Canadian economy, paying more than $4.1 billion in pension benefits annually.
HOOPP operates as a private independent trust, and its Board of Trustees governs the Plan and Fund, focusing on HOOPP's mission to deliver on our pension promise. The Board is made up of appointees from the Ontario Hospital Association (OHA) and four unions: the Ontario Nurses' Association (ONA), the Canadian Union of Public Employees (CUPE), the Ontario Public Service Employees' Union (OPSEU) and the Service Employees International Union (SEIU). This governance model provides representation from both employers and members in support of the long-term interests of the Plan.
Contact:
Scott White, Senior Director, Public Relations
swhite2@hoopp.com