In commemorating the 100th year of the history of VJLS-JH, the construction project of the New Japanese Hall and Multi-purpose Classroom Complex was launched in 1993. The spacious new five storey building with underground parking was completed in June 2000, adjoining the 1928 Old Japanese Hall building. The Old Hall has been designated as a heritage building by the City of Vancouver. The project is commonly called “The VJLS-JH Y2K Capital Project” and its final project costs will be over C$6.0 million if the future debt service fees would have been included.

The Y2K Capital Project has unexpectedly become a marathon project, and Y2K Project Fundraising Campaign has not yet been fully completed. Good news, however is that the outstanding amount of bank loan has finally become slightly below a magic line of $1.0 million (C$965,500 exact) as of August 31, 2007. Over 83% of the fundraising target amount has been accomplished with generous donations over 3000 individuals, businesses, foundations and agencies.

Since this capital project is significantly important for not only the Japanese-Canadian community in Vancouver and the general Canadian communities, but also for the future relationship between Canada and Japan, many dignitaries in both countries have agreed to be the members of the Honorary Advisory Committee of the Y2K Capital Project from the initial stage. Some of them are the (Late) Prince Norihito Takamado, Rt. Hon. Edward Shryer (the 27th Governor General of Canada), Rt. Hon. Yasuhiro Nakasone (former Prime Minister in Japan), Mr. Patrick Read (Commissioner General of 1986 Vancouver Expo), Dr. Koki Sato (Chairman of Mejiro University in Japan).

Y2K Building was completed in June 2000. Although there were still debts from bank, all the debts were paid back in August 2012, thanks to the generous supports from the community.