The University of Ottawa has raised $300 million for the modernization of existing buildings, to extend their useful life for decades to come. This modernization is consistent with the strategic goal of responsible and sustainable growth of uOttawa’s infrastructure over the next decade.
The funds were raised through a 2.635% debenture offering with a 40-year term, the lowest interest rate for a 40-year debenture offering on record in Canada. The University’s superior debt ratings remain unchanged, reflecting uOttawa’s ongoing prudent financial management.
One of the modernization projects involves the 200 Lees Avenue campus, where five buildings will receive mechanical and architectural upgrades that will contribute to a more sustainable, greener campus.
The project will provide new facilities for the Faculty of Health Sciences and enhance pedestrian access between the campus and the Lees LRT station. The University will build state-of-the-art teaching and research facilities to support the faculty’s ongoing evolution and address long-standing scheduling issues. Shovels are expected to be in the ground by September of this year.
Another modernization project involves Roger Guindon Hall, located on Smyth Road at the Ottawa Hospital General campus, which will also undergo a complete mechanical and electrical upgrade, as well as architectural enhancements. This work is expected to begin in 2021.
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