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Vancouver approves 26-storey rental tower near transit, boosting housing and rent income.
Vancouver has approved a rezoning that allows the GEC® Langara project to build a 26-storey rental tower on a former single-family site near a Canada Line station and Langara College.
The development, expanding to 163,000 square feet, will house about 650 residents—up 171%—and aligns with provincial transit-oriented density rules.
With a $150 million budget, the project could generate $13 million annually in rent, up from $3.5 million, and will use financing support, tax exemptions, and lower levies.
Twenty percent of units will be below-market rental housing.
The project is now cleared to move forward with permits.
Vancouver aprueba una torre de alquiler de 26 pisos cerca del transporte público, aumentando la vivienda y los ingresos por alquiler.