Amber Beat: Global Student Accommodation Market News - May 2024, Week 03

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 May 16- 23

United Kingdom

• Construction of 540-bed student accommodation commences in Birmingham, featuring premium amenities with sustainable design (1)
• Elkstone Partners unveils plans for 850-bed student accommodation scheme in Belfast City Centre, including modern amenities (2)
• Plans approved for an £85 million, 432-bedroom student accommodation project in Glasgow city centre, featuring a 16-storey building with studios (3)
• Leeds approves conversion of 18th Century Grade II-Listed Springfield House to 334-bed student accommodation, amid heritage concerns (4)
• 20-storey student housing plan providing 717-bed spaces to replace empty office block on Duncombe Street in Leeds (5)
• Bristol's Galleries Shopping Centre to be demolished for mixed-use development, including 450 homes, a hotel, and student accommodation for 750 students (6)
• Plans submitted for a 1,500-room student accommodation project at Elephant and Castle, London, featuring 32-storey blocks and retail spaces; construction is expected to begin in 2028 (7)
• Edinburgh approves £80M Ocean Point 2 development featuring mixed-use properties including 404 student flats and 112 built-to-rent homes (8)

United States of America

• Greystar, Provident secure $183M financing for the acquisition of 2 student housing properties near the University of Washington in Seattle (9)
• L3 Campus acquires 764-bed luxury student housing community 'Nine at Central' near UCF in Orlando with $83M acquisition loan (10)
• A new 10-story student housing tower under construction on Park Avenue Strip in Tucson, featuring 161 units and 648 beds (11)
• Cardinal Group acquires student community for $31.4M at Norman, featuring 612-bed near the University of Oklahoma (12)
• Meritus breaks ground on a student housing complex with 340 apartments in Washington County to be ready by fall 2025 (13)

Australia

• Dutch pension investor joins $1 billion partnership for 1,100 purpose-built student accommodations in Australia (14)
• Australia plans to cap international student intake from 2025, prompting concerns amidst growing enrollment trends (15)
• PGGM and Apt. Residential launch a $1.5 billion build-to-rent venture in Sydney, targeting over 2,500 premium units amid surging rental demand (16)

Europe

• Lombardy region launches €1.2M project to house university students with elderly residents, aiming for affordable living and intergenerational bonds (17)
• New €10M student residence at Former Galeras Hospital in Spain, expected to open in 2025 with 400 rooms at €900 monthly rent (18)
• Heilbronn approves plans for Seven New Buildings in Neckarbogen District in Germany, including 100 apartments and 230 student residences, expected to commence in autumn 2025 (19)
• University Residence at former school of engineering in Cádiz, Spain, set to open with 124 rooms in 2025/26 academic year (20)
• Landmark Baker’s Corner Pub for sale at €7M with planning approval for a 276-bed student accommodation scheme in South Dublin (21)

Canada

• New University of Toronto’s Scarborough residence achieves Passive House Certification, becoming Canada's largest passive house building with 746 beds (22)
• Werkliv begins construction of 205-unit student housing project in St. John's near Memorial University (23)

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