[Surrey] GEC Education Centre | 165m | 49 fl | Proposed

[Flynn86]

I wonder if this project will ever happen or just get forgotten

[jollyburger]

Originally Posted by Flynn86

I wonder if this project will ever happen or just get forgotten

It's going through city planning..

[dferch]

It'll happen, we just need to give it time

[Flynn86]

Originally Posted by dferch

It'll happen, we just need to give it time

Give it time like 10 years and I'm not joking about that time line

[Ailurus]

Some hope for those skeptical this one would ever get off the ground.

The COSMOS entry has been updated to show this one went in for building permit application on Nov 2.

https://apps.surrey.ca/Online-Development-Inquiry/?year=20&seq=0071

That's a good indication this one could break ground in 6-8 months.

[EhJay]

They have a nice big sign out front saying "Completion 2025". One can dream

[dferch]

2025 is in line with starting in 8 months. This also makes sense with where the application/planning seems to be. Good to see activity and boxes being checked every week or so!

[Jatt jatt]

Any news on this project?

[dferch]

Haven’t seen anything so this is all we have

https://apps.surrey.ca/Online-Development-Inquiry/?year=20&seq=0071

[jollyburger]

Originally Posted by dferch

Haven’t seen anything so this is all we have

https://apps.surrey.ca/Online-Development-Inquiry/?year=20&seq=0071

Fire submitted a review in February. There hasn't been any updates recently from CIBT

https://cibt.net/corporate-news/

[Flynn86]

Is this tower going to get built or is it all talk??? I'm thinking its all talk now.

[jollyburger]

Originally Posted by Flynn86

Is this tower going to get built or is it all talk??? I'm thinking its all talk now.

It's not getting built.

[GMasterAres]

It is still progressing. Servicing agreement was submitted on the 14th so last week. That indicates progression and is typically a very close to start of construction stage. My guess is if this still gets built we'll see excavation start once we're through rain season here since it is cheaper for them. So maybe June/July?

But who knows. I'll actually get interested when they start digging.

[jollyburger]

From February

We have a few substantial projects that are undergoing development, and the most prominent one is the Education Mega Center in Surrey at the city center of Surrey. We plan on starting construction this year with a development budget of nearly $300 million.

https://cibt.net/blog/2022/02/23/stockhouse_interview_20220223/

[jollyburger]

This means nothing if they don't start in the fall but this is an update from May

We will start the construction of GEC Oakridge and GEC education mega center in Surrey by Fall 2022. We continue working with developers on our Richmond project by assisting their financial restructuring. Unfortunately, we could face a write-down of our investment there or a potential acquisition and opportunity for us and expand our portfolio. So this is still a work in progress. We should wrap up within the next one or two quarters.

https://stockhouse.com/opinion/interview...reat-vancouver-s-booming-real-estate-and

[jollyburger]

Latest from CIBT, nothing new

GEC Education Mega Center® (“EMC”): EMC received rezoning approval on February 21st, 2021. The Company’s subsidiary, Global Education City Holdings Inc. (“Global Holdings“), submitted development and building permit applications in late 2021 and is expecting a final reading date set by the City of Surrey before year-end, followed by construction permit approvals. The total construction budget, including land costs, now stands at $318 million.

[jollyburger]

Some investor powerpoint had it for a mid-2023 construction start.

[Flynn86]

I'll believe once a crane goes up. They've been talking about this project for years with no big news.

[jollyburger]

In June

Revision of the development plan for GEC® EMC is nearly complete for submission to the City of Surrey. The new plan is to convert 168 condominiums into rental units and reduce the number of commercial floors. These changes are designed to meet the rising demand for student housing in the areas that GEC® EMC will neighbour including Simon Fraser University (Surrey), thae site of the future SFU Medical School, and Kwantlen Polytechnic University (Surrey), and from UBC’s expansion to Surrey. GEC® EMC will enter into the construction financing phase in 2024. The steady decline of interest rates, GST exemption and the legislated TOA zoning to reduce parking requirements came in timely.

https://gechq.com/blog/2024/06/17/gecc-provides-updates-on-its-corporate-activities/

[kja384]

GECC Subsidiary Partners with Pure Group on GEC Education Mega Centre Development in Surrey, BC


https://gechq.com/blog/2025/05/06/gecc-s...on-mega-centre-development-in-surrey-bc/

About Pure Group of Companies:

Pure Group is a Canadian-based real estate investment and development firm. Over the last 20 years, Pure Group has achieved success across North America through the Pure Industrial Real Estate Trust (PIRET), Sunstone Opportunity Funds, and Pure Multi-Family REIT. These platforms monetized $6.4B of properties, including over 9,000 residential units, more than 20 million square feet of industrial space and 50 retail assets. Since 2020, Pure Group has refocused on targeting multi-family development opportunities in British Columbia. Pure’s seasoned team of Principals has many decades of experience across all real estate segments including development, finance, appraisal, leasing, construction, accounting, and property management.