While the first months of 2020 have not been kind to the ACT's tertiary education sector, it is important to remember the hit from coronavirus will only be a short-term blip in the history of institutions that date back half a century and more.
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The University of NSW, which has had a presence here for 50 years, first at the Royal Military College, Duntroon, and then at ADFA since 1986, is a case in point.
Having outgrown its ADFA site, the UNSW has committed to investing a billion dollars in a new campus at Reid.
The development, to be carried out over the next 15 years, will have a significant flow on effect. It will take place on the site currently used by the Canberra Institute of Technology.
The CIT will operate from the Reid site until its new campus, to be built at a cost of about $250 million at Woden, comes on line.
While some aspects of the land exchange are still problematic, with concerns being expressed about the size of the proposed new CIT site, there is no getting away from the fact the two projects represent one of the most significant infrastructure investments Canberra has seen in years.
The UNSW project alone dwarfs the $500 million redevelopment of the Australian War Memorial. The two projects combined rival the investment to date in light rail. They will bring thousands of people to the ACT to pursue educational and employment opportunities.
Chief Minister, Andrew Barr, is correct when he talks up the long term significance of the projects to Canberra's future.
He said the UNSW project could inject up to $3 billion into the ACT's economy. An independent analysis found it could create as many as 2000 new jobs. It is expected to meet the needs of up to 6000 students from around the world.
"The new campus will strengthen the city's reputation as the knowledge capital of Australia, and further reinforce the territory's status as a leader in the defence and security industries," he said.
UNSW already has more than 3000 students at its ADFA campus which plays a crucial role in training the future leaders of the Australian Defence Force.
It will now join the Australian National University, the University of Canberra and the Australian Catholic University, as one of the largest providers of tertiary education, not just in the ACT, but in regional Australia.
Key elements of the new campus, strategically located close to the city centre, will include teaching and learning spaces, student housing and amenities and a defence and security "innovation precinct".
While it is to be expected some naysayers will be quick to find fault with the ACT government's decision to make the Reid site available to the UNSW at a "peppercorn rent", there is nothing particularly untoward about this arrangement.
The ACT government has also committed $25 million, to be delivered in staged payments, to the project.
Similar agreements already exist with other key service providers, including the University of Canberra and the Australia National University and, as the Chief Minister points out, it is an investment in the future of Canberra.
The ACT government has also committed $25 million, to be delivered in staged payments, towards the UNSW project.
Mr Barr cited the many social, educational and economic benefits that would flow from the project and has previously described the land deal as the ACT government's "contribution".
It is a small price to pay for a vital new institution that will help to secure the ACT's future as a centre of educational excellence.
