September 30, 2005 Source: University of Alberta:
http://www.expressnews.ualberta.ca/newsreleases.cfm?id=6993 Board approves Bay Building purchase The U of A Board of Governors today unanimously approved the purchase of the historic Hudson's Bay building on Jasper Avenue in the heart of downtown Edmonton opening the door for more interaction between university technology commercialization initiatives and the business community. Board chair Jim Edwards said Board members were overwhelmingly supportive of the move and understood the significance of being in the city core. "The university's downtown centre will mean that those working in the area will be able to take advantage of our professional development offerings and the business community will have an easy, direct link with our technology commercialization enterprise." President Indira Samarasekera says that everyone recognizes the importance of a U of A presence downtown. "Creative and vibrant cities have world-class, dynamic universities," she said. "Edmonton is no exception and the University of Alberta has an obligation to the community that we take very seriously." Dr. Samarasekera added that the Bay building will be used to anchor the commercialization component of the university and TEC Edmonton (a joint venture with the City of Edmonton through Edmonton Economic Dev elopement Corp.) and the university's Research Transition Facility, now located on campus, will move to the downtown centre. The downtown centre will be the interface between the university and the business, educational, social and cultural communities. The university expects to begin renovations immediately and hopes to begin occupying the building within the next 12 to 18 months. For more information please contact File No: 30 Jim Edwards, Chair, Board of Governors, September 30, 2005 780-492-4954; or Sandra Halme, Public Affairs, 780-492-0442.
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