Construction progresses on a new 18-storey student housing tower in Vancouver backed by government-sponsored financing.
Vancouver, British Columbia, September 2, 2025
A Vancouver student housing operator reported a transformative fiscal year and advanced two major construction projects, including an 18‑storey tower with government‑sponsored financing and a large education complex in Surrey. The firm secured substantial government-backed mortgages and reported near-zero vacancy across its portfolio. Meanwhile, a new provincial short‑term rental registry prompted thousands of automated listing cancellations and host complaints ahead of registration requirements. Separately, a property‑tech platform to protect seniors from financial abuse neared launch, a transit agency partnered with a microbrewery on a limited beer release, and a health-tech firm earned national growth recognition.
A Vancouver-area student housing operator reported a transformative Fiscal 2025 that reshaped its development pipeline and balance sheet, while a provincial short‑term rental registry rollout triggered widespread listing cancellations and host complaints. At the same time, local and national players advanced new services and partnerships that touch construction, housing finance, property protection and health‑care delivery.
The student housing operator finalized a major divestiture in August that produced about $35 million in net proceeds and helped lower overall financing costs late in the fiscal year. That cash, combined with roughly $178.8 million in CMHC‑sponsored mortgages, supported financing for two towers and construction lending for a flagship tower called GEC® Oakridge.
Construction for GEC® Oakridge began in February 2025 under a co‑development with a major construction partner. The total construction budget is about $123 million, and work is slightly ahead of schedule with a target completion in early 2027. The project is projected to generate more than $8 million in annual rental income in its first full academic year of operation, a forward‑looking estimate included in the company’s fiscal summary.
A second major project, an Education Mega Center® in Surrey, secured a development permit in June 2025 and submitted an excavation permit application in July. That project carries an estimated construction budget near $330 million and may seek CMHC financing as it advances.
A density change approved for a GEC® Langara expansion would increase a site from 10 to 26 storeys, a move that the company says could cut cost per buildable square foot substantially and lift projected annual rental income in the first full year from about $3.5 million to roughly $11.5 million under current estimates.
As of August 31, 2025 the student housing portfolio reported a near‑zero vacancy rate. The company noted demand tied to a large student population in the province — more than 0.5 million college and university students — and partnerships with more than 95 schools in Metro Vancouver that feed occupancy into its properties. The overall portfolio and development budgets now exceed $1.3 billion, according to the firm’s summary.
A newly rolled out provincial short‑term rental registry, designed to enforce rules that limit most listings to primary residences and certain additional units, resulted in platforms starting to cancel thousands of bookings ahead of the official deadline. Hosts reported messages telling guests their stays would be canceled if a valid registration number was not in place by the deadline.
Reports from multiple hosts describe technical and administrative hurdles: registration entries rejected for formatting errors, delays on appeals, rejections tied to old vehicle registrations or mismatched address fields, and platform notices sent to guests rather than hosts. Platform representatives said many hosts were supported through the process, though several hundred remained affected when the system launched. A provincial housing official said the registry can be corrected on the back end for certain errors.
A digital platform under development aims to give older homeowners a single place to list properties and assets, share verified data with trusted advisers, and track any changes to estate records, with the goal of spotting unusual or exploitative transactions early. The technology is being designed to be free for users, secure and visible only to authorized sign‑ins, and to show when any authorized person makes a change to the profile. Developers say they are consulting with land‑title officials, provenance data partners and regulators while planning distribution through a large real estate agent network.
In health care, a mobile clinical network described as a kind of Uber for Nurses reported rapid revenue growth over three years and a national recognition listing for technology growth. That platform bundles electronic medical records, telemedicine and mobile booking with built‑in tools for booking, charting and operations, and has been expanding a network of nurses and doctors across states.
Transit agency and a nearby brewery collaborated on a limited run beer tied to a commuter rail brand to promote transit and support a local business. About 1,500 four‑packs were produced for sale at the brewery and some liquor stores, part of a push to find new ways to raise non‑fare revenue and highlight nearby small businesses.
Separately, a subscription PR and investor relations platform advertises itself as an all‑in‑one solution for distribution, media outreach, investor sites, webcast support, and investor meeting scheduling. The platform lists features such as journalist lists, pitch personalization, monitoring of brand mentions, compliance tools, a legal‑customer API for high‑volume press release distribution, bulk discounts, and content and SEO support. Those claims appear as product features in promotional copy and are presented here as reported offerings.
Combined, the financing wins, large project budgets and low vacancy in student housing point to steady construction activity for specialized rental buildings in Metro Vancouver. At the same time, registry rules for short‑term rentals and new digital tools aimed at protecting senior homeowners indicate that regulatory, technological and social shifts will shape how properties are used, sold and monitored going forward.
The main projects include an 18‑storey tower called GEC® Oakridge with a roughly $123 million budget, an Education Mega Center® in Surrey with a roughly $330 million budget, and a density expansion at Langara that would increase the site from 10 to 26 storeys.
Financing includes a mix of CMHC‑sponsored mortgages, construction loans, and proceeds from a corporate divestiture that improved the developer’s balance sheet.
Hosts faced listing cancellations and registration rejections tied to mis‑formatted addresses, mismatched details, and slow appeals. Platforms started canceling bookings before the official deadline, creating confusion for some hosts and guests.
Cornerstone is being built to let seniors gather verified property and asset data in one place, share it with trusted advisers, and track changes to detect unusual activity early. The platform aims to help homeowners, fiduciaries and beneficiaries manage and safeguard property information.
Large student housing budgets and secure CMHC financing point to continued construction activity in specialized rental housing. Regulatory changes for short‑term rentals could shift housing supply and owner decisions about renovations or conversions.
| Topic | Key features / impact |
|---|---|
| GEC® Oakridge | 18 storeys; $123M budget; construction started Feb 2025; CMHC financing; target early 2027 completion; projected >$8M annual rent. |
| Surrey Education Mega Center® | Development permit received; $330M estimated build; excavation permit applied; CMHC financing contemplated. |
| Langara expansion | Density increased from 10 to 26 storeys; projected jump in first‑year rental income from ~$3.5M to ~$11.5M; cost efficiencies expected. |
| Short‑term rental registry | Provincial registry rollout led to thousands of platform cancellations, host registration errors and appeals; backend fixes available for certain issues. |
| Cornerstone platform | Digital asset hub for seniors; verified data sharing; change logging for transparency; aims to reduce financial elder abuse; planned wide distribution. |
| Hydreight / mobile clinical network | EMR + telemedicine + mobile booking; rapid revenue growth; national recognition for tech growth; expanding nurse and doctor network. |
| PR/IR subscription platform | Claims to offer all‑in‑one PR and investor relations tools: media lists, pitch personalization, webcasts, investor meeting scheduling, compliance tools, bulk discounts, and analytics. |
| Local transit partnership | Transit agency and local brewery collaboration produced a limited Platform Pilsner release to promote transit and support a small business; 1,500 four‑packs distributed. |
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