News
Vancouver Student Housing

Hotel Conversion Targets Tech Workers and Students

CIBT Education Group has acquired Viva Suites hotel at 1311 Howe St and unveiled plans to reconfigure the building. CIBT—which purchased the property via a partnership involving its subsidiary Global Education City Holdings—will convert the fully operational hotel into apartments (renovating suites floor by floor) and a long-stay hotel catering to tech sector workers and an ever-growing population of international students, a group that's currently underserved by viable housing options. The revamped Viva building will have up to 230 beds, and a fitness centre, library and TV lounge. Total investment, including purchase price and renovation costs, will be $37M.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Vancouver Newsletters
Related Stories

Unite Looks To Reshape Student Portfolio After £417M First-Half Loss

UNC Schools Seek To Boost Affordable Off-Campus Housing

Greystar Fund Adds To Dublin PBSA Estate As Investor Expands Living Platform

The Scion Group Continues Student Housing Spree With $1.5B Acquisition

Ares, Scion Launch JV With $910M Deal For Student Housing Portfolio

Early Collaboration, Public-Private Partnerships New Norm For Bay Area Student Housing Developers

Dominus And Cheyne Capital Snag £250M Funding As Student Deals Hit £2.1B

Canadian Investor In Talks To Buy £675M UK Student Portfolio

Quincy Officials Agree To Buy 27-Acre College Campus For $21M

Push For Affordable On-Campus Living Takes The Stage At Bisnow's NorCal Student Housing Event

As Hampshire College Announces Closure, Boston-Area Schools Seek To Do More With Less

Mapletree To Wind Down Student Housing Fund After Investors Reject Extension Plan