Market Housing
UBC Properties Trust initiates proposal calls to developers on residential land, which will be leased for market housing. The freehold of UBC's land will never be sold; successful developers enter into a 99 year prepaid lease with the University as landlord. In strict accordance with the Board of Governors' policy, net proceeds from these leases are endowed to serve the University's academic mission.
Successful developers prepare working drawings and permit applications that are consistent with the site characteristics as determined in the Neighbourhood Plan. UBC's Campus and Community Planning is responsible for granting the necessary permits before construction commences. As the projects near completion, the developer stratifies and converts their ground lease into individual strata lots leases which are then assigned from the developer to the end purchaser. As a result, the purchaser ends up being the lessee with UBC as the landlord.
A number of developer projects have been completed at UBC to date. Below is information and links to developers whose projects are currently offering housing for purchase.
Academy
It's time to live within the world of higher education. Polygon is pleased to introduce the newest collection of high-rise apartment residences at the University of British Columbia on Vancouver's West Side...discover Academy. This prestigious collection of one plus den and two bedroom apartment residences showcases contemporary West Coast architecture in a treed setting adjacent to the renowned Pacific Spirit Park. Inside, contemporary interiors feature bright open-plan layouts, marble bathrooms and gourmet kitchens with engineered stone countertops, custom cabinetry and premium appliances. Large private decks invite outdoor entertaining, and many homes offer stunning views of the Strait of Georgia.
Sail
Set within the coveted UBC peninsula, Sail embodies the latest evolution of West Coast modern architecture - a harmony of simplicity and nature. These urban apartment homes encourage indoor/outdoor living at its finest, with Wesbrook Village amenities close by and verdant greenways connecting community and home. Sail is a community of one, two, and three bedroom apartment homes built to REAP Gold standards. These homes are designed to reduce our eco-footprint and yours - saving you money, while doing what's right for the environment.
Yu
In early China, the deep green stone called jade was treasured and known as YU. Today, YU Modern Green Living at Wesbrook Place, UBC is a rare and priceless opportunity. Symbolizing family, beauty and security, YU is a peaceful place and a perfect home in a university setting that is second to none. Innovative green living spaces evoke serenity, while outdoor courtyards provide sanctuary. Offering a spirited urban lifestyle, surrounded by ocean, trails and parks - YU is a legacy worth living and sharing.
Assignment of Lease/Tripartite Agreement
For all Market House properties purchased at UBC, a Form C Assignment of Lease must be signed by the University of BC as well as a Tripartite Agreement for every mortgage placed against the property.
There are several procedures to assist you in obtaining signatures for your Form C Assignment of Lease and Tripartite Agreement. Please make sure that all the information in your documents is correct and follow the Closing Document Procedures to ensure a judicious process.
Thank you for your assistance in following these procedures. If you have any questions, please call 604-731-3103 for assistance.