U of T is Leasing for New Student Residence

U of T is leasing land for its first for profit student residence. The University is planning on building a luxurious 120 million dollar house which will fit 1000 students. The University is planning to fill these houses with wealthy foreign students. Although the current location of the new housing will be not very populated with business's the University is planning that the new housing will attract different business's to come to that location.

I think that building a luxurious house like this, just relying on the foreign students alone to fill this house will not work out well for the University. I think that the University will have to sell this multi million dollar house because there is not a high enough demand for these types of homes. 

http://www.thestar.com/news/article/930656--u-of-t-leasing-land-for-new-student-residence