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GEC Developing Rental Projects Near Oakridge
Global Education Communities is developing two rental-housing projects near Vancouver’s forthcoming massive Oakridge shopping centre redevelopment.
Both projects are located along Cambie Street near West 42nd and West 48th avenues, respectively, and stand to gain from close proximity to a pair of Canada Line rapid-transit stations.
The GEC Oakridge-branded project near 42nd is the most advanced, with 133,703-square-foot-development’s construction well underway. Construction is expected to conclude in May or June of 2027, Toby Chu, CEO of GEC, told Connect in an interview
The company is developing the $135-million project under development and co-operation agreements with Montreal-based Pomerleau Capital. Avison Young facilitated the deals.
ITC Construction, a subsidiary of Pomerleau, is building the 18-storey concrete tower, which will include 95 market and 29 below-market rental units. With the project, GEC is looking to capitalize on demand for its off-campus student-housing specialty and broader multi-family rental projects.
The site is within walking distance, or a short drive or transit ride of Langara College and accessible to UBC, Kwantlen Polytechnic University’s Richmond campus and a number of other post-secondary campuses in and around Downtown Vancouver.
Avison Young has facilitated investment and co-operation agreements for the development of the $135-million project in Vancouver between GEC and Pomerleau.
The deals mark the start of the companies’ broader collaboration to develop student- housing projects across Metro Vancouver as part of GEC’s ambitious $800-million portfolio.
If all goes according to plan, the GEC Langara mixed-use project will comprise 163,572 sf. The proposed development’s tower is slated to stand 25 storeys and include 1,104 square feet of retail space, an outdoor plaza on the ground floor and 182 rental-residential units.
The site is closer to Langara College than GEC Oakridge and has the same accessibility to post-secondary campuses.
GEC Langara is going through the city’s development-approval process. Construction is expected to take five years.
Pictured: GEC Langara project site.
Photo: Monte Stewart. All rights reserved. No republishing permitted.
