Amber Beat: Global Student Accommodation Market News - January 2024, Week 04

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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 20-January 25

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United Kingdom

• GMI Construction Group begins construction of £50M, 275-bed student accommodation project “Rialto House” at former York cinema and bingo hall site (1)
• Unite Students expands UK portfolio by starting construction of 719-bed property at Hawthorne House in Stratford, East London, set to open for AY 2026/27, featuring a sixth-form college (2)
• YPP Lettings completes construction of Live Oasis St Albans Place student accommodation project consisting of 212 apartments, announces 100% booking for 2024-25 (3)
• Torsion Group secures £26.2M loan from Atelier for student housing project including 196 studios, gym, cinema, and rooftop terrace near University of Warwick, set for September 2025 debut (4)
• S Harrison secures forward funding from Q Investment Partners for two student property developments totalling 141 high-quality studios, close to University of Edinburgh (5)
• Hamcap (Pentland Gait) Limited plans the partial demolition of the existing office pavilions of Heriot House and Currie House for 428-bed PBSA and office floorspace at 595 and 597 Calder Road, Edinburgh (6)

United States of America

• California State University San Marcos breaks ground on a new 550-bed student housing with dining facility, expected to open its doors to students in 2026 (7)
• Xavier University, Louisiana to begin development of its largest dorm with 600 beds, costing $80 million, to accommodate the inflow of students, expected to open in Fall 2025 (8)
• JLL Capital Markets arranges a $45 million loan for Blue Vista and Bain Capital Real Estate to refinance ‘Vue53’, a 403-bed student housing complex, near the University of Chicago (9)
• USF Sarasota-Manatee reveals progress on its new student housing dorms, costing $42 million and expected to house 200 students set to open in Spring 2024 (10)
• Greystone Monticello arranges a $36.3 million green loan for a 226-unit Bloomington Student Housing property, near the Indiana University (11)

Australia

• Singapore builder SLB Development proposes student accommodation project including 409 studio units and 11 two-bedroom apartments at 225 King Street, Central Melbourne (12)
• Heritage Victoria approved the plan to redevelop Queen Victoria Market with three towers, including the building of 49-level high student accommodation (13)

Europe

• Madrid emerges as the top investment hub for student residences in Europe, boasting strong demand with over 50 universities, Deutsche Bank Report highlights robust growth potential (14)
• University of Huelva's new student residence, featuring 320 rooms, 440 beds, and extensive facilities, on track to open in September 2024 (15)
• Irish Government unveils ambitious student housing policy with an investment of €61 million for 1,000 beds across Maynooth University, University of Limerick, and University of Galway (16)
• Aparto opens a 347-bed student residence, Cristóbal de Moura in Barcelona's 22@ district, achieving 100% occupancy, offering modern amenities and sustainable living (17)
• Controversial La Palmera student residence hosts grand inauguration party, offering 544 beds with top-notch facilities in Seville, Spain (18)
• Cain International makes debut in Spain with a €74M loan for Vita Group's student accommodation project in Madrid's Oria Campus, expected to deliver 585 beds ahead of AY 2026/2027 (19)

Canada

• Canada announces an immediate 2-year cap on international student permits amidst housing crisis. Approximately 360,000 study permits to be approved in 2024, marking a 35% decrease from 2023 (20)
• Nipissing University, collaborates with a rental platform, SpacesShared,  to provide affordable rooms in seniors' homes for students, addressing housing challenges (21)

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