Developer proposes alternative to controversial Trent residence plan

May 29, 2009

Simcoe Canada Development has an offer in on a former bible college in Peterborough with a major condition for sale being Trent University agreeing to use the property as a 331-bed student residence. The firm is pitching the facility as an alternative to the proposed private residence on Water Street, which has drawn criticism from students, faculty, and area residents. Under one scenario, Trent could pay the firm $500,000 for the first year of a 20-year lease and net $868,500. In another, the university and its student union could pay $1,000 per student over 20 years, which would earn Trent $331,000. Peterborough Examiner | MyKawartha.com