About UM Properties and UM Properties Holdings Inc.
UM Properties GP Inc. (general partner) and UM Properties Holdings Inc. (limited partner and corporate trustee) were established in 2016 by the University of Manitoba's Board of Governors as a legal structure under which the development of the Southwood Lands will occur. The legal structure is a limited partnership model and directors of both entities have now been appointed by the Board of Governors.
UM Properties Holdings Inc. is the limited partner and corporate trustee of the UM Properties legal structure. Its primary duty is to receive proceeds from the development activities undertaken and distribute them to the beneficiaries of the trust (the University of Manitoba and the J.W. Dafoe Foundation). It is anticipated that this entity will only meet once a year. This board of UM Properties Holdings Inc. comprises two directors, one Senior Officer of the University and one other member, and should be different individuals than those serving as directors of UM Properties GP Inc.
With the directors in place, the Board of UM Properties GP Inc. can commence the work of the organization, the first important step being the recruitment of a CEO to commence the development.
The development of the Southwood lands into a vibrant, mixed-use, transit-centred neighborhood will advance priorities four and five of the strategic plan – Building Community that creates an outstanding learning and working environment and Forging Connections to foster high impact community engagement. The development of the Southwood lands will also align with the principles articulated in the Visionary (re)Generation Master Plan.