The 130,000 square foot SFU School for the Contemporary Arts represents the majority of the $130 million you quoted for the public component of Woodwards. Incidentally, I would love to be able to cite that source for a project I am working on, so could you provide a link?
If I am not mistaken the Province provided $49 million for the SFU School for the Contemporary Arts and the school's fundraising efforts brought in at least $30 million, including $10 million from Goldcorp. I don't know how much came out of the school's capital budget but we are already up to approximately $80 million out of the $130 million that was quoted.
I can very easily see how 200 units of social housing on top of SFU Woodwards and an office building inside the heritage facade of the oldest Woodwards building would eat up another $50 million. I know that several of the "14 Sites" supportive housing buildings are budgeted in the $30 million dollar range and have an average of 120 units. In light of that it really is not difficult to imagine that the non-market housing at Woodwards would have eaten up at least $30 to $40 million of the outstanding $50 million, which would leave $10 to $20 million to cover the approximately 60,000 square foot office building.
Plus don't forget that more than a billion dollars had been poured into social service and housing agencies in the DTES over the years and Woodwards was intended to try to help address the issues that plauge the DTES without simply throwing more money at the usual suspects. I think that having a thousand art school students and a couple hundred staff and faculty, close to a thousand new residents, new businesses, and a few hundred office workers from the City, National Film Board, and local non-profits can only help but do good for the neighbourhood. If public money helped make the project possible, which it did, and it has the outcomes for the neighbourhood that are designed, which I think have already started to be seen, then it is money well spent.
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