Real estate developer proposes new university for PEI

Real estate developer Richard Homburg, CEO of Homburg Canada, is pitching a plan for a new university to the Prince Edward Island government. Homburg University would focus on research and professional training in real estate, covering topics such as real estate appraisal, finance, banking, planning, and construction. If the proposal were approved by the province and the Maritime Provinces Higher Education Commission, the university could be in operation by late 2011 or early 2012. Coming out strongly against the idea, University of Prince Edward Island president Wade MacLauchlan believes a new university in the province could undermine the reputation UPEI has built over the years. MacLauchlan is also upset he has not been kept up to date on the province's plans to allow for new degree-granting institutions, noting the proposed legislative changes require extensive consultation with Islanders. CBC