Treasurer Andrew Barr has announced we’re funding the expansion of the University of Canberra’s student accomodation:
The loan was provided under a Disallowable Instrument tabled today in the Legislative Assembly.
The loan is for UC’s ‘On-Campus 1’ development, which is due to begin construction in a matter of weeks, and has been made possible as part of the Commonwealth’s National Rental Affordability Scheme. It will provide 297 dwellings, with accommodation for 420 students, and is due to open by first semester 2014.
This is just part of the UC’s plans to boost student accommodation, to help cater for an expected rise in enrolments from 10,500 today to near 16,500 in 2018.
In total UC will be providing around 1350 beds through NRAS and ACT Government contributions, with more than 700 beds still to be provided at Wing 4 of the old Cameron Offices and through On-Campus Stage 2.
So UC is going to be dumping another 6,000 bodies into the Canberra rental market and we get to pay $50 million to house 1/5th of them?
Great business model for UC!