Construction is slated to begin this fall on a new $292.5-million Douglas College student residence in New Westminster.

The 20-storey tower will become the first Douglas College on-campus student residence. Douglas operates campuses in different parts of Metro Vancouver.

The B.C. government will invest $202.3 million while Douglas provides $90.2 million, the province announced in a news release.

The building will have 368 student beds in one-, two- and four-bed units. The structure will also contain classrooms, student- collaboration space, labs and offices, and food services.

Wood, stone and other natural products will be used in construction, which is slated for completion in fall 2026.

The government said it has reached 85% of its goal to build student residences containing 8,000 new beds by 2028. In a bit of political posturing, the NDP government claimed the former Liberal regime only provided 130 new student-housing beds while ruling for 16 years.