TRU and the TRU Community Trust work in partnership on a robust Market Development Review Process that facilitates collaboration, agreements, and approvals to support the shared vision of campus development.
The Trust administers TRU’s Development Review Process for all market development through the following process.
- Site Selection | Site analysis and selection occurs in conjunction with TRU facilities to align with the Campus Master Plan and TRU priorities. Selected sites are approved by the Trust Board and TRU Board of Governors is notified. Due diligence and further feasibility analysis is then undertaken on the site in partnership with TRU.
- Pre-Development Concept | Once a site is identified for market development potential, the Trust designs, tests, and then proposes a development concept to the TRU Board of Governors for approval.
- Offer to Lease | The sales process then begins with developers submitting their proposals to the Trust, including how the development will meet the high standards set in TRU’s Campus Design Guidelines and Sustainability requirements and the specific requirements for each development site. The proposed development is then submitted for design review by the Design Review Panel at the schematic and final design stage.
- Ground Lease | Once the final design is approved by both the Trust and TRU Board of Governors, a 99-year lease is signed between the developer and TRU.
- Revenue Distribution | Revenue from the sale is then distributed to TRU and the TRU Foundation for endowment.