Real Property Acquisitions
Campus development is a long-range process. Humber must look ahead to anticipate future growth and respond with an intelligent balance of building renewal and campus expansion.
As part of this dynamic process, Humber leases, acquires and disposes of real estate property in the vicinity of the three campus locations. These decisions are based on need, opportunity and funding.
Real estate leases and acquisitions must support Humber’s strategic vision and Campus Development Plan. Properties are sold or disposed of when they are no longer needed to fulfil this vision. All strategic real estate transactions are approved by Humber’s Board of Directors.
Capital Development Responsibilities
Real Estate Acquisitions
The Capital Development team is responsible for reviewing each real estate acquisition to ensure that Humber is making a wise investment. When a property is considered for purchase, we conduct a data analysis to confirm that it supports Humber’s Campus Development Plan. We also make recommendations about the most appropriate use for the property (i.e. best suited for classroom space, has the potential to accommodate a lab, etc).
If the property is suitable, we will hire consultants to conduct any required due diligence, such as Environmental and Building Condition Assessments. Our recommendations help to mitigate the risks of property acquisition and ensure that Humber is putting
its resources to the best use.
Humber also maintains a number of leased properties on or near campus. Our team manages the lease contracts on these properties and is responsible for integrating lease renewals and property renovations into Humber’s planning process.