Quote:
Originally Posted by Tacheguy
I think this is a strange role for the university. Smartpark is linked quite closely to the research and development mission of the u, but neighbourhood residential? I guess I am missing something ..
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I agree that from a philosophical standpoint, it is strange for universities to get into the property development game, but it tends to fly under the radar (unlike say MPI getting into the property development game). It's always pitched as a new revenue stream for cash starved universities, but experience suggests it doesn't always work out that way. Nevertheless, the university as property developer is becoming common. Simon Fraser University has developed a ton of residential and commercial over the past decade (see
http://univercity.ca), and radically changed the nature of their campus, which was entirely a commuter campus even 15 years ago. I doubt UM could replicate this success because the property market is quite different here.