GECC GEC Langara Project Gains Urban Design Panel Approval

Global Education Communities Corp. (GECC) has received approval from the Vancouver Urban Design Panel for its GEC Langara project. This approval is a step towards obtaining further permissions from the Vancouver Council and Planning Department, potentially allowing an increase in building density at the site. The project is situated at Cambie Street and West 49th Avenue, near the Langara-49th Avenue SkyTrain station.

The project initially planned for 10 floors could extend to 26 floors, increasing the buildable area from 63,204 to 163,572 square feet. This aligns with Bill 47 Transit Oriented Area legislation, promoting higher density near transit hubs. Subject to final approvals, the development could accommodate 650 occupants, a 171% capacity increase.

Toby Chu, GECC's CEO, anticipates annual rental revenue may exceed $13.5 million, up from the initial $3.5 million projection. The project will be exempt from the Goods and Services Tax (GST) and certain development levies, lowering capital costs. Further, GECC plans to offer below-market rentals for students.