24-storey student housing building proposed for downtown Guelph

A new student housing building could offer hundreds of needed units. CTV’s Alexandra Holyk reports.

A three-storey office space could soon become Guelph’s tallest building.

The current property at 70 Fountain St., is in the midst of being acquired by Toronto-based developer Fitzrovia, with plans to build student rental housing.

“We’re just going through the re-zoning process right now,” said Fitzrovia founder and CEO Adrian Rocca in an interview with CTV News. “We are getting close with the city to do a 24-storey building, so 420, plus or minus, units.”

Fitzrovia is fulfilling plans proposed by the property’s previous owner, Conestoga College. The college bought the building in December 2024 but ended up selling it less than a year later.

“As our needs continue to evolve, the college evaluated options and subsequently determined the most responsible path forward was to sell the property to a developer positioned to move forward immediately with residential development,” said Tim Schill, the college’s vice-president of facilities, capital development, risk, safety and security.

The building would have coincided with the college’s plan to build a $90 million campus in downtown Guelph, located in the former Co-operators building on 130 Macdonnell Street. However, Conestoga College paused renovations in 2025 due to a drop in international student enrolment.

Rocca said the proposal aligned with Fitzrovia’s mission and plans for the property.

“We approached [Conestoga College] directly and gave them an offer and they’ve been very straightforward to deal with, which we really appreciate,” said Rocca.

The next steps include a stamp of approval from the city to re-zone the property. A city spokesperson said the process could take months.

“We very much view our investment in any city that we operate in as a long-term hold,” Rocca said.

If the plan is approved, construction would begin in fall 2027 and wrap up in spring 2030 — just in time for students to move in before the fall semester.

“It’s going to be geared to students at both Conestoga and University of Guelph,” said Rocca.

Rocca also said he hopes the new build will address the city’s housing crisis by moving students into the high-rise and out of single-family homes.

“We think that will open up single-family rental to owner/occupiers that live in a city like Guelph to buy those homes and not have it taken up by student housing.”

Guelph city council is expected to discuss the proposed development at 70 Fountain Street, at a planning meeting on March 10. The discussion will be open to the public and delegates wishing to speak on the matter are encouraged to register by no later than 10 a.m. on March 6.