Decision on the president’s home was on the agenda for the closed session of Feb. 17 meeting, as was a term sheet related to the ‘sale of university lands’
Laurentian University has opted to sell the John Street home that has traditionally been occupied by its presidents.
Since purchasing this house in 1965, the university’s various leaders have hosted thousands of guests and hundreds of important community gatherings. “However, notwithstanding its historical significance, our current and future needs for spaces that support academic excellence and the student experience, supersede holding on to this piece of our past,” the email from the president’s office said.
Laurentian’s plan of arrangement to pay out its creditors is to be funded by a pool of cash of up to $53.5 to come from the sale of university real estate to the province of Ontario, as per an agreement last year with the province.
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