Amber Beat: Global Student Accommodation Market News - February 2024, Week 01

About Amber Beat

Missed keeping track of all the latest happenings in the student accommodation market?

Amber Beat is a weekly snapshot of the key developments in top student accommodation markets.  This newsletter provides you with all the information you need to know, from new upcoming projects to current trends, news affecting students to government policies, we’ve got you covered!

Amber Beat | News from January 26-February 01

United Kingdom

• Scape Living secures €123M loan from NatWest and Virgin Money for its 713-bed student residence development on 181 Talgarth Road in Hammersmith, London, aiming to open for booking in September 2025/26 (1)
• Barings, an investment management firm, commits £65M forward funding for McLaren Property's “St Gabriel’s Hall”, a 319-bed student accommodation project in Manchester, aiming for ESG Excellence and projected to open in AY 2025/26 (2)
• Manchester City Council greenlights McLaren Property and Kadans Science Partner's portion of Upper Brook Street development, providing 737 student beds in Ardwick, and Property Alliance Group and Moda Living for its portion comprising 983 student beds (3)
• City of Edinburgh Council approves Vita Group's plans for a 267-bed student accommodation building as part of the £240 million New Waverley Regeneration Project (4)
• Liverpool City Council approves McLaren Property’s plans to develop a 242-bed PBSA project on Myrtle Street, near University of Liverpool Campus (5)
• Oxford City Council approves planning application of Croudace Properties for 55-ensuite student accommodation project on 13-15 Magdalen Street (6)
• Oxford City Council approves demolition of Green Templeton College's Porter's Lodge and Clock Tower for constructing student accommodation with dining hall and study area, committee member raises concerns about losing 1980s structure's architectural value (7)

United States of America

• TSB Realty, LLC closes the sale of 'Identity Eugene', a 686-bed luxury student housing community located near University of Eugene, Oregon for an undisclosed amount to Harrison Street and Core Spaces' JV (8)
• JLL Capital Markets arranges the sale of ‘Oso Verde’, a 297-bed student housing facility near Baylor University in Waco, Texas (9)
• Boston Real Estate Development Board approves the permanent conversion of a 426-room wing of the ‘Sheraton Boston Hotel’, after a long wait, into student housing facility to serve students of Northeastern University, Boston (10)
• University of North Carolina Wilmington to lease ‘Plato’s Lofts’, a 216-bed private apartment complex in response to accommodate rising influx of students (11)

Australia

• Iglu files a plan for ‘Iglu Mascot II’, a $64M student accommodation with 305 rooms across 12 stories on a 2000 sqm plot in Sydney’s Southern suburbs (12)
• The University of Newcastle, Callaghan unveils concept design for 9-storey student accommodation at its Honeysuckle campus to accommodate 450 students (13)

Europe

• New student residence 'Canissat' inaugurated in Marseille, France, adding 114 accommodations to address housing needs (14)
• Bestinver plans to open a 400-bed student residence in former Galeras Hospital in Spain, awaiting license for the 2025-26 academic year (15)
• University of Jaén in Linares, Spain to convert the former Polytechnic School building into student accommodation, enhancing housing options for students (16)
• Student housing crisis deepens in Utrecht, Netherlands as only 962 of 1,640 promised homes delivered by 2024, IBB redevelopment delayed to 2030 (17)
• Neu Marx student residence in Vienna, Austria celebrates topping-out ceremony, with 418 rooms and 48 serviced apartments, set to open winter semester 2024 (18)

‍

Canada

• Ontario Ministry of Colleges and Universities to guarantee housing for incoming international students, following a federal cap on student visas (19)
• Canada's Housing Minister, Sean Fraser, announced the expansion of the Apartment Construction Loan Program to include low-interest loans for student housing, with expedited loan processing within a few months (20)
• Huron University, Ontario plans to open a CA$61M international students’ residence in September 2024 (21)
• Université du Québec à Chicoutimi plans to construct a $12M student accommodation to house up to 71 students (22)
• Alma College progresses with its student residence project, with an estimated cost of $6.2 million student housing project, providing up to 60 housing units (23)
• Six-story residential building with 75 housing units planned for the student community along rue du Pacifique in Sherbrooke. UTILE, a non-profit, plans to finish this student housing project by 2026, with around 1.48 million through the municipal "house" program (24)

Sources: ( (1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), (14), (15), (16), (17), (18), (19), (20), (21), (22), (23), (24))

‍