The University of British Columbia has an interest in incorporating life cycle environmental impacts and financial information into project planning, as well as research and teaching. As part of a tall wood building research program with the UBC Sustainability Initiative and Dept. of Civil Engineering, a comprehensive life cycle assessment (LCA) and life cycle costing (LCC) study was done of two student high-rise residential buildings, based on the result of whole building LCA done by Athena Sustainable Materials Institute and whole building LCC done by Sensible Building Science. These buildings are of similar design but Brock Commons Tallwood House has a hybrid mass-timber structure and Ponderosa Commons Cedar House has a more traditional concrete structure. This paper will include a brief overview of the research process, data collection, analysis, and key results. The paper will then focus on the main opportunities, challenges, and lessons learned from both the results of the LCA/LCC projects and the process of conducting the study.