University of Guelph
Real Estate Land Use Vision & Strategy
Facing mounting financial pressures across the Canadian higher education sector, the University of Guelph set out to reassess its non-core land portfolio and chart a path toward long-term, mission-aligned value creation. As part of the multidisciplinary team behind Guelph's Real Estate Land Use Vision & Strategy PaperDolls worked alongside the University and the broader consulting team to ensure the strategy was grounded in sound financial and business decision-making, leading the prioritization framework that tested opportunities against economic viability, market realities, and long-term institutional value. The result is a phased roadmap of housing, research and innovation space, and campus-adjacent community uses, with several priority precincts already advancing into deeper planning and development.
Western University
Institutional Real Estate Strategy & Asset Management
Western University engaged PaperDolls to run a multi-phase land strategy across several sites in its urban and suburban portfolio, in response to rising costs, policy changes, and infrastructure constraints that made it necessary to find new sources of revenue without compromising long-term flexibility. We're leading the market, financial, and development analysis on key sites, alongside overall asset management of its broader non-academic real estate portfolio. Our work includes assessing and prioritizing opportunities by financial value and institutional impact, overseeing updates to municipal planning permissions, and structuring the deals that bring these projects forward. The result is a long-term real estate strategy that gives Western a lasting source of alternative revenue to reinvest in its academic infrastructure and long-term institutional priorities.
University of Toronto
Tricon Partnership
Facing intensifying housing pressures across Toronto and a significant shortfall in student beds at the St. George campus, the University of Toronto launched its Build More Housing Initiative in 2024 to expand residential capacity while preserving institutional capital. Sonya and Olivia led the strategy, design and launch of this work while still at the University, structuring a joint venture partnership model that had not been done before within this sector, one that shares capital and risk with private-sector partners rather than requiring the University to fund construction and the subsequent operations on its own.
When they left to fully launch PaperDolls, U of T retained the firm to see the work through the governance process alongside final deal and agreement negotiations. The approach is structured so the university requires no incremental capital outlay, while still retaining a share of ongoing revenue from the buildings and their operations, turning new residences into a long-term source of funding for teaching, research, and student supports. The result is a new model for how a university can deliver housing at scale, leveraging the full range of assets an institution brings to the table beyond just land.