Global Education Communities Corporation (GECC) has partnered with the Pure Group to develop the GEC Education Mega Centre (EMC), a $330-million student housing and mixed-use project in Surrey, B.C.

A related property transaction has been completed.

Toby Chu, GECC’s chairman, president and CEO said project will help ease Metro Vancouver’s critical rental-housing shortage, which places even more pressure on students.

“GEC’s Education Mega Centre represents a meaningful step towards addressing this critical issue,” said Chu. “Partnering with experienced financial and investment partners like Pure Group will enable us to accelerate the development of additional GEC student rental properties throughout Metro Vancouver and beyond.”

The development project will feature a 49-storey tower with one floor of retail, two floors of commercial space preleased to GECC’s subsidiary schools, 43 floors of market rental units, and three amenity and mechanical floors. The fully furnished units will house up to 1,380 occupants, including students and educational staff.

Amenities will include an electronic library, video-conferencing facilities, a fitness centre, a quiet lounge, a coffee shop, a games room, and computer labs.

“Our team will ensure this landmark development is delivered on time, within budget, and to the highest quality standards,” said Steven Evans, Pure’s president and CEO. “We are big believers in the importance of central Surrey’s position in Metro Vancouver, and the timing aligns well with the Surrey-Langley Skytrain expansion, new Cloverdale hospital, and the expansions of SFU and UBC.

“We look forward to collaborating with GECC to deliver much needed student-centric housing and contribute to the remarkable development of Surrey’s city centre.”

EMC will be located in the heart of Surrey’s education hub, within walking distance of Simon Fraser University’s Surrey campus, Kwantlen Polytechnic University, Douglas College, Sprott Shaw College, and the future UBC Surrey campus. The project aims to address the region’s acute student housing shortage, with no existing purpose-built student housing offered by nearby institutions.

GECC and Pure Group will act as co-general partners on the project. Pure Group will oversee development, financing, construction, and asset management, while GECC will manage the property under its GEC brand upon completion.

GECC is one of Canada’s largest education and student housing investment companies. The firm owns business and language colleges, student-centric rental apartments, recruitment centres and corporate offices at 41 locations in Canada and internationally.

Pure owns and operates a REIT and development firm.

Avison Young facilitated the property transaction after bringing GECC and Pure together as partners.

“This deal will bring value not only to the students, but to the broader community by delivering safe, attractive housing in a much-needed area, given none of the post-secondary schools in Surrey offer student accommodations,” said Jason Mah, an Avison Young principal based in the company’s Vancouver office.

“So, so we congratulate GECC and Pure on this major undertaking.”

Both GECC and Pure are based in Vancouver.

Pictured: B.C. student housing complex owned by GECC.

Photo: GECC

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