Latest news with #medicalcampus
CBS News
21-05-2025
- Business
- CBS News
New owner and future of Lutheran legacy campus unveiled in Colorado
For decades, a 100 acre property in the center of Wheat Ridge operated as a medical campus. Now the former Lutheran hospital property is changing. "We want to get going just as quickly as we can," Chris Elliott Principal of E5X said. On Tuesday, Intermountain Health announced that E5X, a Colorado based developer, would be taking over as the new owner. At an event unveiling the future of the site, Elliott shared some personal history about his connection to the site. "A couple of stories of my own: I let an abdominal pain go for too long and I spent three weeks in this hospital and had my appendix out. My mother worked here for 20 years. So, there's a deep personal connection here," he said. That's part of the reason Chad Moynahan, real estate Director for IMH, said they stood out among other interested buyers. "After thoroughly evaluating 10 distinct proposals, we finalized terms and conditions and are under a contract to sell the property to E5X," Moynahan said. "This ensures that redevelopment will be handled by a team dedicated to the community's well-being." E5X The development design will be in line with the city's master plan. Low density housing will fill the outer edge while higher density and taller buildings will be in the center, up to the five-story maximum approved by voters. Lauren Mikulak, Community Development Director for the City of Wheat Ridge, says it's the next chapter for the community. "It's essentially a new neighborhood. 100 acres is essentially 12 city blocks. It's not just new homes. It's new sidewalks, it's new bike lanes, new parks," she said. Included in the master plan are requirements for green space and preservation of two historic buildings on the property: the blue house and the chapel. Elliott says they are working on how best to incorporate the old with the new. "Do you have any ideas yet.?" CBS Colorado Reporter Karen Morfitt asked. "We have a couple of parties interested in doing a restaurant in here and then we've talked to others that maybe will build an event space. The library district. ... we've talked to a lot of people who could make use of it and preserve the integrity of the space," he said. For everyone, including Elliott, the hope is a future that will last for the next 100 years. "We want something that stands the test of time," he said. Moynahan says they are still in the closing process, and both IMH and E5X declined to discuss the sale price of the property.
CBC
07-05-2025
- Business
- CBC
CBU approves 2025-26 operating budget that includes $6.8M deficit
Cape Breton University has cut some programs and will eliminate a number of positions over the next year in the face of a budget shortfall. On Tuesday, the university's board of governors passed a $106.5-million operating budget for the upcoming school year, which includes a $6.8-million deficit. Gordon MacInnis, vice-president of finance and operations at CBU, said the budget is a reflection of the federal government's decision to restrict the number of international students permitted to study in Nova Scotia. "It really has had a dramatic impact upon student enrolment across the country," said MacInnis. "Because about 77 per cent of our enrolment was international, we are disproportionately impacted and that is what you're seeing in the budget document." A couple of years ago, CBU's enrolment peaked at 9,100 students. MacInnis said that figure is now expected to drop to about 5,400 students, translating to a revenue loss of about $33 million. In an attempt to cut costs, CBU will move all of its operations back to its university campus on Grand Lake Road in Sydney. It also plans to pare at least 56 positions, 14 of which will be eliminated through attrition and by not filling vacancies. The university has already launched an early retirement incentive program for eligible employees and will not be renewing 56 term positions. MacInnis said CBU will prioritize the placement of full-time staff into new positions at the university's newly created medical campus, which is set to begin operations this summer. The university has been preparing for a decline in revenues related to the international market, said MacInnis, with CBU now expected to balance its budget by 2027-28. "The most significant risk for us is that the international markets do not rebound as we are expecting that they may over the next couple of years," he said. "And if that doesn't go well, then you know, it will certainly be another challenge that we will have to address in the coming years." Three programs have been suspended at CBU in recent months due to the decline in international student enrolment. They include two post-baccalaureate programs centred on health-care management and business management. CBU said it also expects there will be some increases in student fees in order to maintain the same student experience, although university officials did not specify how much they will go up.
