Advisory to Local Residents

In recent months, you have seen various construction activities take place along Chancellor Boulevard between East Mall / North West Marine Drive and Wesbrook Mall. This advisory has been developed on behalf of Vancouver School of Theology (VST) Properties Trust in conjunction with UBC Properties Trust to provide you with an update and progress report for the “Chancellor Place Neighbourhood” construction activities currently taking place in your neighbourhood.

Projects:

· Chancellor Gate: This project involved the construction of a gate structure at the entrance of Theology Mall at Chancellor Boulevard, various roadwork upgrades along Chancellor Boulevard and the road systems to and from the Iona Building, and various utility installations and upgrades for existing and planned building structures. This project has attained substantial completion.

· St. Andrew’s Lane: This project entails the installation and upgrades of various utility services along St. Andrew’s Lane for existing and planned building structures. This project has attained substantial completion.

· Chancellor House: This project comprises of the construction of Multi-Family Residential Buildings, which includes 6 Duplex Structures and 1 apartment complex, and the associated roadwork and utility tie-ins and possible upgrades. This project commenced in early September and is estimated to be completed in December, 2004.

· Iona Building: This project consists of the interior demolition and extensive renovations required at the Iona Building. This project will commence in early October and will continue for approximately one year.

· VST Residential Facilities: This project includes the construction of a 38-unit student housing facility with one-level of underground parking, and utility tie-ins and possible upgrades. This project will commence in early October and will continue for approximately one year.

Construction Activities:

Over the next few years, VST has several projects planned as part of the “Chancellor Place Neighbourhood”. During construction activities, the following specifications will be followed:

Hours of Work: 7:30 am to 7:00 pm, Monday to Friday, 9:00 am to 4:00 pm on Saturday

Truck Traffic:

· Bulk excavation activities result in the highest truck volumes to and from the construction sites. There are two projects that require bulk excavation activities, Intracorp Development’s “Chancellor House” project, which is scheduled for completion in late October, and Scott Construction’s “VST Residential Housing” which is scheduled for commencement October 8. To minimize truck volumes traveling to and from the construction site, Intracorp has developed a stockpile area on site south of Iona Drive West.

· Upon the completion of bulk and detail excavation activities, truck traffic should be noticeably reduced. You will also notice a variety of truck deliveries required for the site, including concrete, flatbeds, and lowbeds.

You can find more information on these or upcoming projects for the Vancouver School of Theology (VST) on their website at www.vstpmc.com. In addition, if you have any comments or questions regarding these projects or any of the projects being completed on UBC Campus, you can view the Project Weekly Updates at www.gtmconsulting.com/ubc or contact the UBC Properties Trust Project Information Line at: 604-925-4142

We thank you for your cooperation and understanding during this time of development.