Crescent School Acquires Bob Rumball Centre Property, a "Once-in-a-Lifetime" Opportunity
TORONTO, May 26, 2021 /CNW/ - Crescent School has acquired the Bob Rumball Centre property, the current site of the Bob Rumball Canadian Centre of Excellence for the Deaf, located at 2395 Bayview Avenue. The acquisition of the seven-acre property, bordering the north end of the Crescent School campus, has been partly funded by a transformational gift from alumnus Ming Wai Lau, who graduated from Crescent in 1997.
"The acquisition of the Bob Rumball Centre property is a once-in-a-lifetime opportunity that will forever shape the future of Crescent School," says Headmaster Michael Fellin. "We are exploring several options for the site, driven primarily by our 25-year Master Campus Plan to improve and expand our school's curricular and co-curricular programs." One of the acquisition's provisions allows the Rumball Centre to remain onsite for three to five years before Crescent assumes the use of the property. This arrangement will assist Crescent with financing and finalizing the plan for the property while Rumball relocates its facilities and onsite residences.
The Ontario Mission of the Deaf moved to Bayview Avenue in 1977 after outgrowing their church facility on Wellesley Street and began to operate as Bob Rumball. Since then, Bob Rumball organizations have been delivering one-of-a-kind services from the Bayview location and now need a larger space. "We are thrilled to know that the property will continue to be used to influence and change people's lives," says Derek Rumball, President. "We could not have dreamed of a better future use for our property." The proceeds from the sale will support the Bob Rumball Organization's long-term objectives for growth and provide best-in-class care for its communities.
The Rumball property acquisition is valued at just over $42M and will be funded through a combination of donations and financing.
Ming Wai Lau has pledged $12M toward the cost of the property. This is the second major gift from Mr. Lau to Crescent School and one of the largest single gifts in the history of Canadian independent schools. He was the lead donor in the $34M Great Boys campaign that ran from 2007 to 2015. His $5M gift toward that campaign provided naming rights for the Lau Family Wing, which is home to Crescent's Middle School.
Lau credits Crescent School's impact on his formative years for his success and achievements. "The Rumball Centre property unleashes the enormous potential for Crescent School," says Lau. "It opens unimagined opportunities for future generations of students who I hope will benefit from the school in similar ways that I have."
The acquisition of the Rumball Centre will impact Crescent's Master Campus Plan, a 25-year vision for the campus development. The school will reassess the three phases of the Master Campus Plan now that the purchase is confirmed. The first capital improvement of the Master Campus Plan – resurfacing Innes Field with a multi-purpose turf and installing an air-supported sports dome – will be completed by the end of May.
About Crescent School:
Crescent School has been a leader in boys' education since 1913. Located on a beautiful, 30-acre campus in mid-Toronto, Crescent School is an independent day school with 780 students in Grades 3 through 12. Crescent's mission, Men of Character from Boys of Promise, recognizes that boys with curious minds and open hearts have the potential to develop in a manner that will fit their mission in life, whatever it might be. Crescent provides an enriched and rigorous academic environment and a diverse range of co-curricular activities spanning the arts, sports, robotics, business and outreach.
About the Bob Rumball Canadian Centre of Excellence for the Deaf:
The Bob Rumball Canadian Centre of Excellence for the Deaf (BRCCED), one of the Bob Rumball Organizations, provides services to the Deaf, Hard of Hearing and Deaf-Blind community in a communication barrier-free environment. Rumball provides services for those in need across the province and provides support across the country. The BRCCED strives to make today better than yesterday as they plan to make tomorrow better than today.
SOURCE Crescent School
about Crescent School, please contact: Lynda Torneck, Director, Marketing and Communications, [email protected], 416.449.2556 ext. 267; about the Bob Rumball Canadian Centre of Excellence for the Deaf, please contact: Derek Rumball, President, [email protected], cc. Joanne Bursa: [email protected]
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