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In an interview with The Ubyssey, VP External Relations Philip Steenkamp said the university is willing to contribute land, increase on-campus development charges, provide conventional financial funding or a mix of all three. Accordingly, it will not affect funding related to “UBC’s academic mission.”

UBC is working to establish a separate trust, which will ideally let the university invest hugely in their own student housing without the caps of provincial borrowing. After working for years to come up with alternative funding solutions without real success, this may finally allow the university to fund an accelerated construction of student residences.

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