Bouwinvest calls for modernized agreement to unlock billions more in investment

Located adjacent to the new St. Paul’s Hospital and Jim Pattison Medical Campus, Prior Place will anchor a visionary mixed-use community at the gateway to Downtown Vancouver, combining office, retail, and 321 units of much-needed residential space.

Bouwinvest’s growing Canadian portfolio also includes the recently launched Symposia student housing development in Burnaby, in partnership with Harrison Street. This 462-bed facility serving Simon Fraser University is scheduled for completion in 2028.

These investments demonstrate the tangible impact of Dutch institutional capital in addressing Canada’s housing supply crisis by delivering high-density, sustainable housing. However, as we celebrate these milestones, there is a significant fiscal bottleneck that prevents this model from being scaled nationally.

Currently, a non-reciprocal 26 per cent tax treatment on Dutch institutional capital makes investing in Canadian housing less competitive than other global markets, effectively blocking billions of dollars in capital from reaching Canadian communities.

“Prior Place is a blueprint for success. It shows how international capital and local expertise can come together to solve housing shortages today,” said Mark Siezen, CEO of Bouwinvest. “But to meet Canada’s goal of building millions of new homes, we need to move beyond one-off projects. By modernizing tax reciprocity, Canada can unlock a bilateral investment corridor that diversifies the economy and builds the high-quality, sustainable homes Canadians need at zero cost to the taxpayer.”

True reciprocity would create a two-way street, allowing Canadian pension funds to access mature European markets under the same favorable rules, diversifying their investments, while attracting the long-term, sophisticated Dutch capital required to accelerate Canadian housing starts.

“Our commitment to the Canadian market is long-term, but capital is not infinite,” said Robert Wagenaar, Director of North American Investments at Bouwinvest. “While we are satisfied with our current exposure, the reality is that fiscal barriers are holding back Dutch pension capital from scaling in Canada. Therefore, we are calling for a level playing field that allows Dutch and Canadian pensions to build for the future together.”

The projects are being delivered through strategic partnerships with leading North American managers.

"Prior Place is a transformative project for the False Creek Flats, creating a healthcare-focused community that will support thousands of workers at the new St. Paul’s Hospital," said Kevin Johnston, President of Strand. "Delivering a project of this scale and sophistication requires strong, long-term partnerships. We are proud to work alongside Woodbourne and Bouwinvest to bring this vision to life.”

"We are proud to partner with Bouwinvest to bring Prior Place to life," said Nick Macrae, President at Woodbourne. "This project provides essential housing for Vancouver’s growing medical and innovation hub, demonstrating that when global capital finds a home in Canada, our communities thrive."

"The Symposia project near SFU is a critical response to the student housing shortage in the Lower Mainland," added Jonathan Turnbull, Senior Managing Director and Head of Canada at Harrison Street Asset Management. "Collaborating with Bouwinvest allows us to combine global standards in sustainability with local demand, creating future-proof assets for the next generation of Canadians."

Prior Place is designed with high-efficiency, fully electric HVAC systems to achieve near-zero operational carbon emissions, while Symposia is connected to a low-carbon district energy system. Both projects reflect Bouwinvest’s commitment to ESG-integrated urban development and creating liveable, sustainable cities.