Amber Beat: Global Student Accommodation Market News - February 2024, Week 05

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 February 23-February 29

United Kingdom

• Firethorn Trust's Living Platform acquires first PBSA site in Edinburgh, plans to develop 6-storey building comprising 230 student beds and commercial units at Leith Walk Development by 2026/27 (1)
• Boyer, a planning and design consultancy, secures planning consent for 198-unit student accommodation in Southampton, promising sustainable design with BREEAM outstanding aspiration (2)
• Bournemouth's Old Christchurch road building -‘House of Fraser’ to be transformed into 'Bright House' student accommodation with 129 premium en-suite rooms, set to open in September 2024 (3)
• Metropolitan Workshop's 16-storey UEL campus approved in Stratford, introducing 650-bed student accommodation and learning space with £200M investment (4)
• Edinburgh City Council recommends approval for demolition of Murrayfield Sports Bar to make way for 87-bed student accommodation complex (5)
• Gregory Properties' revised student accommodation plan set for approval in York, addressing housing shortage with 133 flats, receiving over £726,000 developer contribution (6)
• Godwin Developments proposes a 101-bed sustainable student accommodation scheme in Central Bristol, addressing undersupply and focusing on sustainability goals (7)
• Sunderland City Council greenlights major student accommodation development with 44 one-bedroom suites in Fawcett Street's Furniture Lounge building (8)

United States of America

• Berkadia secures $118M for construction of ‘52 at Park’, a 300-unit affordable student housing facility in Orlando, Florida with $73.5M in construction loan and $45M in LIHTC equity investment on behalf of Lincoln Avenue Communities (9)
• Aptitude Development starts construction of ‘The Marshall Tempe’, a 458-bed student housing complex located near Arizona State University; open for students in Fall 2026 (10)
• AT&T begins construction of 'Bluford Residence Hall', a 405-bed student dormitory costing $64 million, scheduled to open in Spring 2026 (11)
• The University of Texas discloses plans to develop a $145 million, 1000-bed student housing complex, anticipated completion by 2027 (12)
• LV Collective reveals plans to develop a 299-unit student housing complex near the University of Maryland in College Park, set to open in Fall 2027 (13)

Australia

• Waterford PBSA Pty Ltd, to collaborate with Exal Group Pty Ltd, for the development of a student housing facility with a capacity for 916 beds, commencing in March 2024 (14)
• Perth Developer ‘Accord Property’ seeks to add nearly 100 beds by proposing a two-story extension, bringing the total height to 18 levels at 641 Wellington Street (15)

Europe

• Nuveen Real Estate provides €70M loan to Amro Partners and Falco Capital for refinancing 1,055 student beds across four Spanish cities (16)
• Belgian Investor Cetim invests €10M for 14-story student residence project in Zaragoza, set to offer 180 rooms; French group Odalys to manage operations, expected to open in 2025 (17)
• Xior Student Housing unveils progress in second phase of Pontoneros de Zaragoza residence on Madre Rafols Street, accommodating 377 students with €23.5 million investment, aiming for LEED certification (18)
• Mersin University welcomes new 1,250-person student dormitory, boosting total accommodation to 18,000; constructed under Youth and Sports Ministry's Investment Program (19)
• Rhize Capital makes €100M debut in Italian market with Milan PBSA loan for Proprium Capital Partners' student housing schemes (20)
• Catholic University KUL of Lublin announces ambitious campus expansion plan of new 7-story student residence with 50 segments, set for completion in 2026 (21)
• Student residences in Spain to expand by 8% by 2025, reaching 125,000 places, Informa Report reveals growing investment trend in university accommodation sector (22)
• Noel Frisby Construction Ltd. proposes 582-bed student accommodation complex near SETU Waterford in Ireland, redefining modern living with advanced amenities (23)

Canada

• Alignvest Student Housing announces the acquisition of Alignvest Student Housing REIT, a PBSA property with 94 beds in 53 furnished units, situated at 417 Nelson Street in Ottawa, Ontario (24)
• Development of 40-bed dorm facility for Nova Scotia Community College's Cumberland campus in Springhill, N.S., experiences setbacks due to public opposition, leading officials to reconsider their initial choice of location (25)

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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), (25))

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