The University Endowment Lands is an unincorporated area surrounding the University of British Columbia. Pacific Spirit Regional Park lies within the UEL, and although geographically located within the UEL, the University of British Columbia and private housing on university land are not under the administration of the UEL. While only 15 minutes by car from Downtown Vancouver it is a world apart and feels like its own city, separate from the rest of the Westside. There are so many amenities for all residents to enjoy, not just students – UBC Aquatic Centre, Chan Centre for the performing arts, UBC Hospital, Museum of Anthropology, a major new shopping hub at Wesbrook Village and miles and miles of biking/hiking trails through spectacular old growth forest.
Almost all properties available to purchase here are on long term pre-paid leases, however unlike many other leasehold offerings in Vancouver, UBC leases have retained their values extremely well and look likely to continue to do so. The majority of homes here are condominiums, both apartments and townhouses. The first area of major development was the Hampton Place neighbourhood in the 90’s. These buildings offer more space for your money than the subsequent projects. Since 2000 the speed of development has accelerated, especially on the southside of the UEL in the Wesbrook Village area.
There are a handful of residential streets on the north side of UBC which are home to large, single family homes, both leasehold and freehold. Many sit on larger lots and have water views, making them some of the most prestigious and desirable in the city.