By: Jeremy Nutall
March 31, 2026
Harrison Street Asset Management has partnered as a majority investor on PC Urban Properties’ $265m affordable rental project in Vancouver aimed at healthcare workers, Green Street News can reveal.
The two-tower development, at 13th Avenue and Willow Street, will deliver 507 apartment units directly across from Vancouver General Hospital.
PC Urban initiated the rezoning process last year for a high-density residential development. While the company originally had proposed a 354-unit project, the revised plan reflects an increased hospital capacity and evolving demand.
Harrison Street confirmed its involvement in the project on Tuesday, though it did not disclose the size of its ownership stake.
In a statement, PC Urban said the development is intended to address anticipated workforce growth at VGH, which will soon undergo an expansion. The need, the firm said, also is underscored by commuting patterns among workers: 35% of the hospital’s more than 12,000 staff spend more than two hours each day commuting to and from work.
The development will offer fully furnished rentals, with a mix studio, one-bedroom and two-bedroom layouts. It also will have an 11,000 sq ft childcare facility, along with a range of amenities including children’s play areas, indoor and outdoor communal spaces and workout rooms.
“This is pioneering opportunity to build much-needed, affordable rental housing for our healthcare workers,” said Brent Sawchyn, chief executive of PC Urban.
Construction on the twin 22-storey towers will break ground this fall.
Harrison Street is a global asset management firm headquartered in Chicago with 19 offices around the world. It has $108bn of assets under management.
Vancouver-based PC Urban was founded in 2009 and has 502m sq ft of space under development, with projects across British Columbia
