WLU buys houses
In 2016, five houses bought by Wilfrid Laurier University will be renovated, repaired and used for student housing.
In 2016, five houses bought by Wilfrid Laurier University will be renovated, repaired and used for student housing.
According to Kevin Crowley, director of communications, public affairs and marketing at Laurier, Laurier purchased five houses as part of their real estate program in mid-2014.
Laurier’s real estate program is the strategic buying and selling of properties to ensure the university has acceptable buildings for their current and future needs.
Three houses can be found at 128 Albert Street, 130 Albert Street and 148 Albert Street, while two properties are on the Ezra strip at 63 Ezra Avenue and 65 Ezra Avenue. All houses were previously privately-owned rental properties.
“These houses had been neglected and were in need of significant repair. The university is mindful of city property standards and the special heritage character of Albert Street,” said Crowley.
The university worked with city planners and a heritage contractor to improve accessibility and the conditions of the houses.
In 2012, Laurier purchased 12 privately owned student-rental buildings — 10 on Ezra Street, one on Bricker Avenue and one on Hickory Street.
“The rental income from these apartment units covers the mortgage costs and also yields a net profit to the university each month, while also providing Laurier with property that it might use in future for possible growth needs,” said Crowley.
