GEC(R) Langara Receives Approval for 26-Storey Flagship Project

VANCOUVER, BC / ACCESS Newswire / January 14, 2026 / Global Education Communities Corp. ("GECC" or the "Company") (TSX:GEC)(OTCQB:GECSF) is pleased to announce that the City of Vancouver has approved the rezoning and density increase for GEC Langara. The approval transitions the site from a single-house residential designation to that of a 26-storey rental apartment tower.

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.