UBC is proposing 145 sq ft “micro unit” apartments.
The Board of Governors should be able to clearly articulate an answer to the question: What is Student Housing at UBC for?
In 2015-16, once the rent increases take effect, SHHS is forecast to pay a $7.8M dividend to the university administration. That’s about $728 for every person living in residence at UBC.
UBC wants to build new undergrad teaching labs which will cost $80M. As is the case with many campus building projects, UBC does not have $80M. So, UBC has concocted a plan to come up with $80M. There is some complicated financial wizardry afoot.
It is absolutely true that SHHS works on a cost neutral basis when considered as a self contained administrative unit. However, a lot of the costs that SHHS has to pay come from other parts of UBC – especially when it comes to capital costs. Because SHHS is part of UBC, UBC can require it to use other UBC resources, whether or not there are cheaper options available.
UBC would have you believe that an hour-plus commute from a far-flung suburb is necessary to find rent on par with the “below market” rental rates offered by student residence. In short: [citation needed] – the evidence in this survey simply doesn’t support that claim.
Mortgage interest paid to UBC by students living in residence this year: ~$18 million. Mortgage interest paid to UBC by upper admin and faculty: $0.
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