 
1910
Thirty-five hundred acres of land on Point Grey Peninsula is set aside as an endowment, with the University as
beneficiary. This land is to be used for urban development, including retail areas, urban parks and schools, and
individual homes and apartments.
1984
Robert (Bob) Lee, a UBC alumnus with a proven record of real estate development success, is appointed to the UBC
Board of Governors. Mr. Lee believes that UBC should take an active role in developing a portion of the UBC lands
for residential development. Over the next three years he tirelessly champions his innovative vision of establishing
long-term endowment wealth for UBC by developing surplus land.
1987
The Board of Governors stipulates that:
- land is not to be sold, but rather leased on a long-term (99 year) prepaid basis;
- any financing required for infrastructure servicing must be secured by the land and not UBC;
- UBC is required to pay the value of all building improvements if lease terms are not renewed at the end of the leasehold period;
- all surplus proceeds generated from these activities are to be placed in endowments for the University rather than into general revenues.
1988
UBC Properties Trust is incorporated, with Bob Lee, Jim Houston and Al Poettcker as the founding directors.
The Board then appoints Mark Betteridge as President. Initially a wholly owned subsidiary of UBC, it now
operates as a trust, with UBC and the UBC Foundation as sole beneficiaries.
Over the years, the UBC Properties Trust mandate evolves to include the acquisition, development and management
of some of UBC's real estate assets. In addition to servicing and marketing lands for residential projects,
UBC Properties Trust:
- develops faculty rental housing;
- manages Discovery Parks Inc (no longer as of 1997);
- produces land use studies;
- manages an investment mortgage portfolio;
- analyzes projects as requested by UBC;
- manages the construction of institutional projects.
1989
Approximately 1800 acres are transferred to the Greater Vancouver Regional District to establish
Pacific Spirit Park.
Today
UBC Properties Trust currently manages over $600 million dollars worth of construction on campus,
making it one of the largest developers in the province. Including endowment lands previously set
aside for the University Golf Course and residential areas, the total area dedicated to sustaining
and supporting UBC's future growth now totals 1000 acres.
|
