Global Education Communities Corp. (GECC) has secured a master lease agreement with a local developer for a property on 4589 Gladstone Street, Vancouver. The deal spans five years with a potential five-year extension and offers GECC a discounted lease rate, along with future profit sharing if the property is sold during the lease. The property, formerly names The Gladstone but now renamed to GEC Kingsway, is set to open by August 1, 2024 and will feature a six-storey building with 284 fully furnished beds and various amenities including a fitness center, student lounge, and underground parking. Strategically located near Nanaimo SkyTrain station, it provides easy access to downtown Vancouver and educational institutions like BCIT and Vancouver Community College.
GECC, a key player in Canada’s education and student housing sector since 1994, operates across 40 locations domestically and internationally. Some notable education subsidiaries include Sprott Shaw College, Sprott Shaw Language College, Vancouver International College, and CIBT School of Business & Technology Corp.
