Amber Beat: Global Student Accommodation Market News- October, 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 October 13- October 19, 2023

United Kingdom

• Palatinate’s analysis on student accommodation market 2023 shows a slight increase in availability, 29% of properties on StuRent cost more than £200/week with 7% of homes having no bills including, exceeding the government loan limit (1)
• Plymouth receives high praise from students in a poll by USwitch for its student housing provisions among other UK cities with more than 3000 student properties (2)
• Bedminster Councillors call the city’s two universities to mitigate the risk of the local housing crisis due to the migration of around 850 students from PBSA to private rented housing in the area as two-thirds of students don’t renew their contract for the second year (3)
• Maslow Capital provides £68M finance package to HIG Realty Partners and Primus Property Group’s joint venture for 2 PBSA developments in Leeds and Lancaster (4)
• GMI Construction Group contract for £50M student accommodation scheme in York with Olympian Homes; the building to comprise 275 beds and multiple amenities (5)

New Construction (United Kingdom)

• Innovation Control acquires 244-bed PBSA near the University of Central Lancaster with funding by Cambridge & Countries Bank (6)
• Partners Group and Host Student Housing complete construction of £29M, 206-bed PBSA scheme in Bournemouth (7)
• Western UK Property Group proposes a 263-studio PBSA development in Manchester's Plymouth Grove (8)
• Ogilvie Constructions starts the development of a student accommodation project at Edinburgh’s Haymarket Yards for Aurum UK (9)
• Birmingham’s new PBSA project ‘Pershore Junction’ reaches the landmark stage, developer Alumno celebrates topping out ceremony with key stakeholders (10)

United States of America

• Pace University inaugurates ‘15 Beekman’, a 26-storey mix-use building featuring a new residence hall to house up to 500 students, with state-of-the-art amenities (11)
• 198 McAllister St. Building’ student housing in San Francisco marks its completion. The facility provides 656 units for graduate students and professionals from UC Law SF, UCSF, UCB, and the University of San Francisco (12)
• University of Michigan breaks ground on 'Milestone,' a $631 million on-campus student housing facility expected to add 6500 beds across three phases (13)
• Clark Atlanta University to develop 3 new buildings to improve the on-campus student living experience. These additional infrastructures will include a 400-bed student residence hall, a second dining hall, and an innovative student success centre (14)
• Landmark Properties sets a record for the largest off-campus single-year portfolio by delivering 10 new properties worth $2 billion, adding 8,195 beds (15)
• Safad and Vie Management receive $63 million to refinance ‘Vie Towers’, a 244-unit student housing complex located near the University of Maryland in College Park and Howard University, Northern DC (16)

Australia

• MaxCap, Australian Unity, and UniLodge form a $1 billion partnership for student accommodation, initiating a 732-bed tower worth $108 million at Wellington Street, Perth (17)
• Sydney records a 38% increase in international student enrolments driving offshore investor interest in the Australian PBSA market (18)
• Rental crisis intensifies in Australia with the average monthly rent for single studios increasing by 7.9%, raising concerns over the high cost of accommodation for international students (19)

Europe

• The Dot Group to acquire CRM Students, expanding its student housing portfolio to over 26,000 beds across Europe and the UK (20)
• Paris Dauphine University inaugurates a new fully equipped student residence in Saint-Ouen, providing housing to 159 students (21)
• New student apartment building completed in Berlin's Oberschöneweide with 159 flats to provide affordable housing for students (22)
• Construction of 7-story 'Akademik przy Grochowska' Dormitory begins in Kamionek, adding 500 student beds in Poland (23)
• Lisbon City Council approves architectural project for student residences in former Ministry of Education building in Portugal, plans to create 15,000 beds by 2026 (24)
• Belgium's KU Leuven and Odisee University to launch ambitious Bargiekaai Project in Ghent, accommodating 3,000 students and 90+ high-quality student rooms (25)

Canada

• Edmonton's newly opened Laurent Tower prompts student leaders to advocate for more diverse and affordable housing options to accommodate the city's growing student population (26)
• Holland College's President, argues against limiting international student enrollment, highlighting its impact on college programs, and the need for a better approach to address housing concerns in Charlottetown (27)
• Cape Breton University plans to scale back rising international student enrollment due to concerns over housing and part-time job shortages in the region (28)
• Wilfrid Laurier University collaborates with SpacesShared to provide students with affordable housing options in Waterloo and Brantford, enabling older adults to share their extra space (29)

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), (26), (27), (28), (29))