Funding

Funding

Centennial College’s Strategic Campus Plan is an ambitious blueprint for accommodating expanding student enrolments and growing academic programs. The plan sets up a flexible framework for integrating development opportunities that include academic, residential and commercial development across Centennial’s major campuses. To date, this work represents $330 million in capital investments, the majority of which is already expended or underway.

Centennial Residence and Culinary Arts Centre

Centennial College partnered with Knightstone Capital Management to undertake the planning, financing, construction and management of the new Centennial Residence and Culinary Arts Centre at the Progress Campus. The $85-million project is the latest initiative in Centennial’s implementation of its ambitious Strategic Campus Plan, which has already seen new buildings constructed at its Progress and Ashtonbee campuses, and extensive renovations made to existing facilities.

Ashtonbee Campus Renewal

The Ashtonbee Campus Renewal reflects Centennial's continued commitment to providing our students with the facilities they need for academic success. Significantly, no government funding was required to support the $40.6-million project, with the College financing the new building and renovations at the Ashtonbee Campus with of its own revenues. The Centennial College Student Association Inc. (CCSAI) also donated $4 million towards construction from its own budget. 

Library and Academic Facility

Funding for the Library and Academic Facility was provided by the Government of Canada's Knowledge Infrastructure Program and through the Ontario Government's 2009 Budget. The Ontario government invested $27.7 million towards the new building, while the federal government provided $7.3 million in support. The college contributed $5.8 million towards the project, which had an overall cost of $46 million. Scarborough Southwest MPP Lorenzo Berardinetti was instrumental in helping Centennial secure this funding, as was Colleges and Institutes Canada (formerly the Association of Canadian Community Colleges) and Colleges Ontario.

Athletic and Wellness Centre

The new Athletic and Wellness Centre (AWC) was financed by the Ontario Finance Authority (OFA), an agency of the Ontario government whose mandate includes providing a broad range of financial services to Infrastructure Ontario. The OFA contributed $17 million in financing toward the $23 million project. The CCSAI collects a levy from each student to help pay for the construction and operation of the AWC at Progress and athletic and wellness initiatives for all campuses. This expenditure was approved by students in a referendum vote in February 2007. The Centennial College Alumni Association donated $100,000 for the construction of the new courtyard and Alumni Clock that was part of the architectural plan.