UPEI Aiming for $50 Million in Private Investment
Just two years after launching its ambitious $25 million Building a Legacy campaign, the University of Prince Edward Island has exceeded its original objective and is now working towards a new $50 million goal for private donations.
At a "Grand Celebration" in the W.A. Murphy Student Centre on May 16 Building a Legacy campaign chair Fred Hyndman announced that private investments in the University have reached $27 million. After thanking the many volunteers whose efforts have generated widespread financial support for UPEI, locally and across the country, Hyndman stated that there is still much more to accomplish.
"This is time to continue Building a Legacy and to pass the torch," he said as he introduced Mike Schurman, who will lead Building a Legacy to its new $50 million target. Schurman is a well-known PEI entrepreneur and community leader who has served as Vice-Chair of the Board of Governors of UPEI. In taking on the leadership of Building a Legacy, he urged:
"Take a look around this beautiful and historic campus and see the need to invest in infrastructure, in funding the best of Canada's researchers, and in supporting a culture of quality teaching. Join me as we drive toward new heights for UPEI and for this province. Let's work together to make it $50 million."
The University announced ambitious plans to expand and renovate the campus through a combination of private donations and government support. President Wade MacLauchlan unveiled artists' renderings of a new school of business administration to be located in what is now Marian Hall student residence. It will be renovated to provide 22,000 square feet of new teaching and office space. The campaign to generate private financial support for the School will be led by Tim Banks, President of the APM Group and Dr. Roberta MacDonald, Dean of Business. The provincial government has already pledged $4 million to the renovations as part of a $25 million commitment for capital renewal at UPEI over 10 years.
The event was also an opportunity to announce plans for the Centre for Enterprise and Entrepreneurship to be constructed adjacent to the new school of business administration. The Atlantic Canada Opportunities Agency is contributing $1.69 million to the new centre.
