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U of W sells president's house, proceeds to go into budget

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The University of Winnipeg president’s house at 49 Oak St. has sold for just under its asking price of $789,900.

University officials said today that no further details would be released.

The 3,160-square-foot, four-bedroom home, built in the 1930s near the Assiniboine River, housed U of W presidents since it was purchased by the university in 1955.

However, with president Lloyd Axworthy retiring June 30, U of W decided to sell and put the proceeds into its budget.

Many universities are divesting themselves of presidential digs, and are finding that candidates for the top job prefer to own their own homes and build up equity.

History

Updated on Monday, April 7, 2014 at 2:28 PM CDT: Corrects year house was built.

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