UNIVERSITY (UBC)

The area is home to the University of British Columbia, so you’ll find a lot of students, teachers and researchers who live nearby. Many of the condos and townhouses are on long term pre-paid leasehold lots, which means the land is owned by the UBC Properties Trust. These properties were built in the 1990’s and onwards with 99-year leases (typically) so there are still decades left on the leases. These leasehold properties are viewed as quite safe from a mortgage perspective, compared to a typical leasehold property, since the land will always be owned by the UBC Properties Trust, which is in place to ensure that property is accessible to students and teachers. UBC is a lively area next to a lot of nature – both Wreck Beach and Pacific Spirit Park are a short walk from the campus and allow residents to ensure the forests and beaches.