Yes, one of the reasons for the relocation, at least the very early discussions of it many years ago, was to bring student's into a more central location where there are more services, as the current location adjacent to CBU is in the middle of nowhere. Edit - so although there aren't many services there now, there are still more than at the current location.
This should also serve to bring more stability to downtown, which will be a huge win for the city. If the Chernin project next to the Holiday Inn finally starts in addition to this, it should result in a significant transformation for the city, not to mention the skyline.
I'm very happy to see this moving forward, though part of me wishes I could be home to see the progress on these things.
Edit - just noticed an article mentioning tenders have been issued for formwork, concrete reinforcement, and concrete supply for three of the buildings involved in the NSCC project. Closing date Sep 29. Things should start visibly moving soon!