Regent College Completes Sale of its Parking Lot
Maps Data: Google Earth ©2023, Image Landsat / Copernicus.
President Jeff Greenman has announced that Regent College has completed the sale of its parking lot to Polygon Homes. Polygon plans to use this lot to build an 18-story tower, to be called Regent House, with an attractive landscaped plaza between the Regent College building and the new structure. Set to begin in early 2025, construction is expected to take approximately 30 months to complete.
Crucially, this new building will include affordable rental housing for Regent students.
“A key element of the plan is that Regent will own two floors of housing exclusively for our students, as well as 30 stalls of underground parking. There will also be a common room and a spacious outdoor terrace for Regent’s use,” Jeff noted.
“The provision of housing for our students is very exciting,” commented Diane Stinton, Dean of Students. “One of the biggest challenges our students face is the lack of reasonably-priced rental housing in Vancouver. This will allow for a small community of Regent students to share life in a beautiful new facility just steps from Regent’s front door.”
Board Chair Earl Phillips added, “The Board has considered a variety of options for the best use of the parking lot for more than twenty years. We must be good stewards of our property, and we have always been trying to find a way to provide housing for our students. This project achieves that goal while also adding significantly to Regent’s endowment funds and thereby supporting the Board’s goal of securing the long-term financial sustainability of the College. The project advances our ability to serve students and to achieve our core mission.”
Jeff explained, “I am delighted that our collaboration with Polygon Homes has reached this historic milestone. Polygon has been a pleasure to work with throughout this long planning process, particularly because they made a committed effort to understand who we are and what Regent needs from this project.
“Polygon is one of the most experienced and respected developers in our province, and their track record in projects around UBC is excellent. We have greatly appreciated their partnership through the slow process of getting all the approvals required to undertake this project, which we first began discussing in 2019. Thanks to the hard work of many people, and the prayers of many people in Regent’s extended family, we are excited to be moving ahead.”