Fanshawe explores opportunity for growth and development in downtown London.
Fanshawe College has revealed plans for a new downtown London location that would see an additional 1,600 students in the city's core in a reconstructed and enlarged Kingsmill building.
"We've seen the positive energy and exciting impact of having almost 400 students and staff downtown," said Peter Devlin, President, Fanshawe College. "Imagine the opportunity to further enhance the core by moving an additional 1,600 students into a phase two expansion!"
Fanshawe has made a conditional offer to purchase the Kingsmill building that remains in effect until early August 2014. The Kingsmill building offers Fanshawe and the City of London with a unique opportunity for growth and development in downtown London and to secure a positive, long-term constructive use of the Kingsmill property.
Following an extensive structural assessment and feasibility study by expert consultants, the College has determined that reconstruction of the interior of the Kingsmill building will be necessary to effectively transition from retail to educational use. However, the College is committed to respecting the unique history and features of the building, including the façade.
"Our family is very supportive of Fanshawe purchasing the property and converting the building into a learning facility," said Tim Kingsmill, President of Kingsmill's. "It's very important to our family to leave the Kingsmill property in good hands and to ensure it remains a lively contributor to downtown London. We firmly believe that the College presents us with that opportunity."
The proposed solution would transform the building into a modern and efficient structure. The total capital cost of transforming the Kingsmill building to a six-storey, 101,000-square-foot campus downtown is $66.2 million. To accomplish this project, Fanshawe is asking for the City's support by providing additional grants and approving essential heritage alterations.
Fanshawe is prepared to invest up to $46.2 million of the College's own money for the enlarged development. Due to the change in scope, the College is requesting the City of London contribute an additional $10 million to the project. This grant would be over and above the $10 million already committed by the City for phase two.
The College will present its plan to London City Council on July 22.
With 17,000 full-time students, 26,000 part-time students and more than 153,000 alumni, Fanshawe is one of Ontario's largest colleges. Its five campuses serve close to half a million people with a promise to educate, engage, empower and excite. For almost 50 years, Fanshawe has been helping people to unlock their potential and achieve success. The College attracts students from 50 countries every year and opens up a world of possibilities through more than 200 degree, diploma and certificate programs, along with apprenticeship training.