Conestoga adds to student housing with purchase of two buildings, lease of hotel

Conestoga College has purchased two buildings and leased a former hotel to add to its student housing offerings. The two purchased properties will be renovated and will add 155 beds to Conestoga’s housing portfolio. Conestoga also signed a three-year deal with Drewlo Holdings to lease the Inn of Waterloo, a hotel that closed in December 2023. The inn incurred fire damage in 2021: Rooms that were not damaged by the fire will be ready for students in September. Conestoga will invest $600K to repair the damaged rooms for occupancy next January.