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August 7, 2016 | by  | in News |
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Anyone got a spare five mil?

The University of Canterbury (UC) is still feeling the effects of the earthquakes, with the University of Canterbury Students’ Association (UCSA) being forced to crowdfund the rebuild of their building.

The current building—which stood for 50 years—is set to be demolished next month following damage sustained during the 2011 earthquake.

Despite receiving an insurance payout for the building to be demolished, as well as further funding from the university, the UCSA are looking to fundraise $5 million to construct the new building.

The fundraiser is to be officially launched at a reunion of former UCSA executive members in August.

The $25 million building will also house the Ngaio Marsh performance theatre and have spaces for meetings, clubs, and offices.

The outdoor amphitheatre overlooking the Avon River will also be retained.

UCSA president James Addington says donations have already started to come in. “We know a lot of people have memories associated with the existing UCSA building and are keen to see future generations of UC students have those same opportunities and experiences.”

Addington added that the wider community will also benefit from the new building. “They might go to the theatre or a music concert, or even use one of the event spaces for a meeting or function between semesters when students are away.”

He goes on to say, “now is the time for every former, current student, and staff member to donate to this worthy cause, to own a piece of the building which is so vital to the UC campus and our student experience.” 

The new 3490m2 building—which has been designed by Architectus—has been described as “exciting, cost-effective, durable.”

Progress of the demolition of the damaged UCSA building, and the construction of the new one, can be followed on the University of Canterbury website.

The new building is expected to be ready for orientation week 2019.

According to a recent report published by Massolutions, 2016 is set to see the crowdfunding industry fund more businesses than venture capital, with property crowdfunding seeing an especially sharp spike.

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