March 22, 2017 – The TRU Community Trust is pleased to announce Cape Group as their first development partner for the master-planned community, known as The Reach. Cape’s proposal includes a 57,000 sq.ft. 4-storey, market condominium development, with plans to break ground this summer.
This initial project with Cape will generate $20 million dollars in economic activity in Kamloops. It’s the first development in a 25-year plan to create a walkable, urban community containing 3,500 multi-family housing units and a mix of retail and services on TRU’s endowment lands.
“Cape is an experienced and enthusiastic development partner who has agreed to build exactly what we envisioned for our first land offering,” says Finlay Sinclair, President and CEO of the Trust. “We couldn’t be happier with this historic partnership.”
Founded in Brandon, Manitoba in 1956, Cape is a three-generation family-led corporation, now based in Vancouver that has invested in communities across Western Canada. “We pride ourselves on hard work and attention to detail and are dedicated to building beautiful communities with beautiful structures,” says Cape President, Reisa Schwartzman. “We are excited to be part of creating a meaningful, lasting community for Kamloops.”
“The Reach embodies the vision set out in the 2013 Campus Master Plan, and I am delighted we are on our way.” says Dr. Alan Shaver, TRU’s President and Vice-Chancellor. “The Reach will vitalize the TRU experience and provide financial support for students and research.”
TRU now joins SFU and UBC as the only universities in British Columbia to have property trusts. “The TRU Community Trust was made possible by the support of the Government of British Columbia and the tireless work of local Kamloops MLAs Todd Stone and Terry Lake,” Sinclair adds. “We would also like to recognize the outstanding support we have received from the City of Kamloops mayor and council.”
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