Property Development
GNWC has announced ambitious plans to redevelop its property. The land is to be divided into three subdistricts: the Centre for Digital Media, Brewery Creek, and the home of a relocated Emily Carr University of Art + Design.
In 2010, the Emily Carr University of Art + Design announced it wanted to move its entire campus to GNWC. In late 2011, GNWC applied to amend its approved hotel use zoning for the west side of the property to allow student housing for the Emily Carr University of Art + Design and the other partners.
GNWC built a new Centre for Digital Media building on the east side of the property. The building includes teaching facilities, meeting and event spaces and 76 student housing units. It opened in September 2012.
At the west side of the property, GNWC Trust recently sold a land parcel to Onni Development Ltd., which will build approximately 200 residential and artist studio units on the parcel. Another land parcel is currently in the sale process with plans to develop additional live/work units. The revenue generated by the sale of land is being used to pay off debt accrued from purchasing the property and establishing the Masters of Digital Media program. Further revenue will be put towards an endowment that can be drawn upon for scholarships, new services, and future on-site developments that align with the Trust’s vision.
Read more about this topic: Great Northern Way Campus
Famous quotes containing the words property and/or development:
“If property had simply pleasures, we could stand it; but its duties make it unbearable. In the interest of the rich we must get rid of it.”
—Oscar Wilde (1854–1900)
“This was the Eastham famous of late years for its camp- meetings, held in a grove near by, to which thousands flock from all parts of the Bay. We conjectured that the reason for the perhaps unusual, if not unhealthful development of the religious sentiment here, was the fact that a large portion of the population are women whose husbands and sons are either abroad on the sea, or else drowned, and there is nobody but they and the ministers left behind.”
—Henry David Thoreau (1817–1862)