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Barr chips in $50 million to help UC build 420 student places

By johnboy - 24 August 2012 10

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!

What’s Your opinion?


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10 Responses to
Barr chips in $50 million to help UC build 420 student places
Kath 9:15 pm 26 Aug 12

Reading through the cut and pasted text above:

A) It’s a loan, not a present
B) This is for the next stage of student accommodation that will be opening in 2014, presumably further works will come through before 2018.

Most unis are going towards more online courses, so a good number of the extra students are likely to be out of town anyway.

rosscoact 12:41 pm 26 Aug 12

I also forgot to say that they are not building anything here. The ACT Government is providing more finance above and beyond their existing agreement with the UC. UC has had a funding instrument with the Territory ever since local government and with the Commonwealth before that.

rosscoact 12:38 pm 26 Aug 12

dungfungus said :

rosscoact said :

Isn’t it a loan? And wouldn’t the loan come out of the Capital come out of the ledger.

Therefore we as ‘taxpayers’ are not paying anything. Money that could be used for Capital projects in the Territory is being used to build a Capital project in the Territory.

The difference with this Capital project, the money will be repaid by the Authority that borrowed it and there will be a positive benefit to all.

Sounds like a good deal to me

The setting up of Rhodium and Actew’s investment in TransACT were “good deals” at the time too.
Why can’t ACT Governments stay out of areas they have no expertise in?

I see what you are saying but I think that providing Housing is exactly what the ACT Government has expertise in.

joingler 11:56 am 26 Aug 12

Chop71 said :

I’m sure this will assist in their Brumbies sponsorship

All the housing is contracted out to private companies. Campus Living Villages run the section on campus while Unilodge does the old Cameron Offices. The UC Students Association run Arscott House. I am pretty sure UC gets very little money from any of these (happy to be corrected).

I think it’s a good thing. Being a former student, UC accommodation is a massive shortage. There is plenty of space on the campus to make UC it’s own little suburb. The accommodation could easily go to 30-40K if needed. And if it’s a loan, the taxpayer pays none of it. It’d be nice if the government charged a little interest on it though.Wouldn’t happen unfortunately

dungfungus 10:02 am 26 Aug 12

rosscoact said :

Isn’t it a loan? And wouldn’t the loan come out of the Capital come out of the ledger.

Therefore we as ‘taxpayers’ are not paying anything. Money that could be used for Capital projects in the Territory is being used to build a Capital project in the Territory.

The difference with this Capital project, the money will be repaid by the Authority that borrowed it and there will be a positive benefit to all.

Sounds like a good deal to me

The setting up of Rhodium and Actew’s investment in TransACT were “good deals” at the time too.
Why can’t ACT Governments stay out of areas they have no expertise in?

rosscoact 9:30 am 26 Aug 12

Isn’t it a loan? And wouldn’t the loan come out of the Capital come out of the ledger.

Therefore we as ‘taxpayers’ are not paying anything. Money that could be used for Capital projects in the Territory is being used to build a Capital project in the Territory.

The difference with this Capital project, the money will be repaid by the Authority that borrowed it and there will be a positive benefit to all.

Sounds like a good deal to me

dungfungus 6:10 pm 25 Aug 12

Is Barr commissioning Rhodium Asset Sloutions MK2?

c_c 6:14 pm 24 Aug 12

Second only in stupidity to the new UC ad running on the radio which features the updated slogan: “Australia’s leading University”

Really? Not even in the 200, much less in any danger of challenging Melbourne Uni and that’s their slogan.

Having themselves on a bit.

somewhere_between_bu 5:23 pm 24 Aug 12

Would be nice to have them spend that money on better quality teaching staff – I’ve had a lecturer AND a tutor who didn’t know how to use the required software for the assignment.

Granted, at least they would try to help you as an undergrad, unlike some of the toffs at the ANU, who think you’re an oxygen thief if you aren’t a research student.

Chop71 12:52 pm 24 Aug 12

I’m sure this will assist in their Brumbies sponsorship

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