Fraser Academy Acquires Former LaSalle College Campus in Vancouver

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Fraser Academy has purchased the former LaSalle College campus at 2665 Renfrew Street, with plans for renovation to enhance learning spaces for special needs education.

In a significant real estate transaction this summer, the low-rise office building previously occupied by LaSalle College was sold, as confirmed by transaction records obtained by STOREYS. The property, located at 2665 Renfrew Street in Vancouver, is strategically positioned at the northwest corner of the intersection with Bradfield Court, just a block north of E 12th Avenue and the Millennium Line SkyTrain’s Renfrew Station. Originally built in 1990, the two-storey structure was home to The Art Institute of Vancouver, which was acquired in January 2017 by LCI Education, a Montreal-based entity that serves as the parent company of LaSalle College. Following this acquisition, The Art Institute was rebranded as LaSalle College Vancouver.
In 2018, LaSalle College Vancouver engaged the services of Colliers, a commercial real estate firm, to assist in finding a new location. Subsequently, local developer Molnar Group acquired the property at 2665 Renfrew Street along with the parking lot at 2710 Renfrew Street for a total of $73,500,000 from Aikang Capital Inc. Following this acquisition, LaSalle, Colliers, and Molnar Group negotiated a pre-lease and build-to-suit agreement to relocate LaSalle College into a new office complex named The Kaslo, being developed at 2710 Kaslo Street. The Kaslo project comprises two seven-storey office buildings offering approximately 218,000 sq. ft of office space, with LaSalle College Vancouver occupying the East Tower, which encompasses around 108,000 sq. ft. The college is slated to move into this new facility in 2025.
This summer, Molnar Group sold the former LaSalle College campus at 2665 Renfrew Street for $35,000,000. According to the latest BC Assessment, the property is valued at $36,678,000, and the sale price indicates a valuation of $509 per sq. ft, given the building's total area of 68,781 sq. ft. The buyer of the property was the Fraser Academy, a private, non-profit special needs school. Earlier in February, Fraser Academy had expressed its need for a new location, considering either redeveloping its existing site at 2294 W 10th Ave in Vancouver or securing a new building.
On September 3, Fraser Academy announced its decision to relocate to 2665 Renfrew Street, clarifying that the purchase was not funded by tuition fees. The new campus will also house The Centre for Dyslexia, which aims to provide specialized learning support for individuals with dyslexia, along with training for educators across Canada. In their announcement, Fraser Academy emphasized the long-term value of investing in a permanent home, a goal that was unattainable on leased land at their previous location.
The Academy plans to renovate the existing two-storey facility, which will allow them to utilize their resources efficiently while minimizing costs and risks associated with new construction. This renovation is anticipated to start in January 2027, with the new campus ready for operation by September 2027. Fraser Academy has engaged SSDG Interiors and VPAC Construction Group to oversee the renovation process.
In the context of LaSalle College, it is notable that in February, a consortium of banks, including RBC, BMO, and CIBC, appointed Deloitte to assess the financial operations of LCI Group, which oversees LaSalle College. This organization operates a network of 11 private higher education institutions across Canada and several other countries. On August 24, LaSalle College sought and was granted creditor protection under the Companies’ Creditors Arrangement Act (CCAA), although this process pertains only to the corporate entities managing LaSalle College Montreal. LaSalle College Vancouver remains unaffected by these proceedings.
The court-appointed Monitor reported that LaSalle College has been grappling with ongoing liquidity issues, attributed to declining enrollment, regulatory pressures, and associated penalties, which have severely impacted the institution's ability to meet financial obligations and sustain its operations without additional support. Despite these challenges, LaSalle College continues to operate, and students returned for classes in September following a brief delay.

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