The three Arctic colleges--Yukon College, Aurora College, and Nunavut Arctic College--have done a remarkably good job with limited resources, both on the trades side and on the post-secondary side.
If you want to build a university in the Arctic, you're talking five to ten years down the road, realistically. It's going to need partnership with other post-secondary institutions in Canada. There won't be one location, because the three territories are so varied. There are huge differences from Yukon to Nunavut to Northwest Territories. You're going to need multiple campuses, quite frankly, even if it was--