American Marconi Wireless News - GEC(R) Langara Receives Approval for 26-Storey Flagship Project

The GEC® Langara project is now cleared to proceed with Development and Building Permit applications. The new approval allows for a maximum buildable area of 163,000 square feet, representing a 159% increase in density from the previous 10-storey design. The expansion aligns with British Columbia's Bill 47 Transit Oriented Area legislation, which mandates higher density near major transit hubs. Under the revised plan, GEC® Langara will accommodate approximately 650 occupants, a 171% increase in housing capacity.

Strategic Location:

GEC® Langara is situated at the corner of Cambie Street and West 49th Avenue, directly adjacent to the Langara-49th Avenue Canada Line station and three blocks from Langara College. The Canada Line provides rapid transit to downtown Vancouver in 15 minutes and to Vancouver International Airport or the City of Richmond in 10 minutes. Transit bus access to the University of British Columbia is under 40 minutes.

"We are very pleased with the government's support for the transit-oriented density," said Toby Chu, Chairman, President, and CEO of GECC. "The GEC® Langara project has a budget of approximately $150 million, and we will seek financing sponsorship from the CMHC to reduce interest costs. While our original projected annual rental revenue was $3.5 million, this approved density could reach $13 million in projected rental income after completion. Additionally, the project will benefit from GST exemptions and reduced development levies, significantly lowering capital costs."

Mr. Chu added, "The enhanced economies of scale will improve GECC's operational efficiencies and spread out operating costs across our portfolio. Crucially, the improved proforma allows GECC to allocate 20% of the units to below-market rental housing, providing much-needed affordable options for the community."

About GECC:

For over 32 years, GECC has been a leader in Canada's education and student housing landscape. Serving a vibrant community of nearly 10,000 domestic and international students annually, GECC operates across 24 student housing apartments, campuses, and offices in Canada and abroad.

Student housing and education super-centres:

GECC is committed to solving Metro Vancouver's critical student housing challenges under the GEC® Living brand. GECC specializes in developing and managing off-campus student-centric rental apartments and pioneering the concept of education super-centres. The GEC® portfolio, comprising both operational properties and development budgets for the pipeline, exceeds $1.3 billion. GECC provides housing solutions to 95 schools in Metro Vancouver, serving domestic and international students from across Canada and 79 countries worldwide. Visit us at: www.gecliving.com.

Education Services

GECC was the owner of Sprott Shaw College until its divestiture in August 2025. GECC's current academic division includes SSLC Language College, SSLC Business College (formerly Vancouver International College) and CIBT School of Business & Technology. These institutions offer a diverse range of business programs and ESL programs (English as a Second Language) designed to meet the evolving needs of international learners. Visit us at: www.studySSLC.com.

As part of its infrastructure, GECC also owns Global Education Alliance Inc. This student recruitment agency connects students with top-tier North American schools and places students into GECC's student housing properties. Irix Design is a leading design and media communications firm based in Vancouver.

Visit GECC online at www.GEChq.com to explore our services and watch our corporate video. Check out our video library on YouTube.com: https://www.youtube.com/gecliving

For more information, contact:

Toby Chu
Chairman, President & CEO
Global Education Communities Corp.

Investor Relations Contact: 1-604-871-9909 extension 301 or | Email: [email protected]

FORWARD-LOOKING STATEMENTS

Some statements in this news release contain forward-looking information (the "forward-looking statements") about the Company and its plans. Forward-looking statements are statements that are not historical facts. Forward-looking statements in this news release include, without limitation, that the approved density of the GEC® Langara project is projected to achieve $13 million in projected rental income after completion, and that the enhanced economies of scale of the GEC® Langara project will improve operational efficiencies and spread out operating costs across the GEC® portfolio. The forward-looking statements are subject to various risks, uncertainties and other factors (collectively, the "Risks") that could cause GECC's actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. The Risks include, without limitation, prevailing rental rates at the time the GEC® Langara project is ready for occupancy, that the anticipated enhanced economies of scale from the GEC® Langara project are realized, and the risk factors identified in the Company's MD&A for the interim period ended November 30, 2025. Forward-looking statements are based on the beliefs, opinions and expectations of GECC's management at the time they are made, and the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change, except as may be required by law.

SOURCE: Global Education Communities Corp

View the original press release on ACCESS Newswire

O.M.Souza--AMWN