UBC housing project to add over 1,500 beds to Vancouver campus

B.C. Premier David Eby announced Tuesday that the province and the University of British Columbia will partner to create housing for more than 1,500 students at UBC's Vancouver campus.

The estimated $560-million project will be funded with $300 million from the province and $260 million from UBC, Eby said at a news conference.

In a news release, the university called the funding "the most significant provincial contribution to a single building project in UBC's history." 

The 1,508-bed project will include five buildings ranging from eight to 18 storeys, 37 new child care spaces, academic and administrative offices and a 400-seat dining hall.

It will be located on the current site of St. John's College in the Lower Mall area. 

New complex is 'transformative': UBC president

The complex will focus on providing homes for graduate students, the post-secondary education and future skills ministry said in a statement.

"This support will be transformative in providing much-needed additional student housing and child care for our community," said UBC President Benoit-Antoine Bacon.

Construction is set to begin in the fall of 2026. UBC says the "project is expected to become operational in phases, starting in fall 2028 and completing in fall 2029."

Keeping housing goals on track

The university says the project aligns with UBC's Campus Vision 2050 plan, which includes a goal to double the residential campus population at the Vancouver campus by 2050, with half of the residents living in below-market rental rate accommodations.

"Student housing is an important part of our work to tackle the housing crisis and deliver more homes for people, faster," B.C. Housing Minister Ravi Kahlon said in the UBC release.

"With more affordable housing on campus, students can travel less, save more, and have more opportunity to focus on their studies. Increasing the supply of student housing also takes significant pressure off the local rental market."

Eby said the student housing project keeps the government on track to meet or exceed their target of building 12,000 student beds by 2028.

In a statement, the Opposition B.C. United party said the project won't help students until the end of the decade.

"It's disappointing that after eight years and two terms in power, the NDP has waited until the last moment, on the eve of an election, to announce missing student housing," the statement said.

The UBC Alma Mater Society said while it's excited about the government's step toward fulfilling housing commitments and is encouraged to see action in collaboration with UBC, this summer's waitlists are still at approximately 7,000 students.

"These 7,000 students will be left to fend for themselves in a very competitive housing market, competing with renters who often have the financial means to pay exorbitant rents and putting upward pressure on rental prices across Metro Vancouver," said the AMS in a statement.

According to a survey the society conducted in spring 2023, 57 per cent of students have experienced financial hardship due to the cost of housing — an increase from 40 per cent in 2021.