CBC reports that Cape Breton University is moving forward with a 146-unit development at the former Tartan Downs racetrack at a time when it has an oversupply of student accommodations. The university is contractually obligated to keep the building as part of its funding agreement with the Government of Nova Scotia Department of Advanced Education, reports CBC, while also reducing its campus vacancy rate from 34% to 5%. “CBU is likely in a housing oversupply situation that will increase as enrolment levels fall to 3,500 students in the coming years,” stated CBU AVP Becky Chisholm and Housing Director Doug Connors. “This is creating upward pressure on the residence vacancy rate both at present and in the coming years.”
CBC
