The society originally performed at the university's Hart House Theatre.
After a brief hiatus, the company found a permanent home in an old fire hall at Adelaide and Berkeley streets in 1972.
It was first built in 1905 and was considerably renovated by architect Ron Thom, whose wife Molly was a longtime member of Alumnae Theatre.
The building now contains a main performance space on the ground level, which seats 140.
NIF has a long history of creating space for young and emerging Canadian theatre artists, including playwrights, directors, actors, stage managers, designers and more.