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

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 20- October 26, 2023

United Kingdom

• UK Government holds back the scrapping of Section 21 in second reading of the Renter’s Reform Bill until new court process is established for repossession of property to maintain yearly cycle of short-term student tenancies (1)
• Laisteridge Student Village, Bradford to be renovated to add 169 student rooms with the support of £2.99 M development facility by Assetz Capital (2)
• Downing turns former plans for the development of residential tower into 555-bed student housing in Manchester city owing to ‘changing market demands’ (3)  
• Plymouth Grove Property Development addresses Manchester's urgent student housing demand and plans to build 283-studio facility at vacant site in Plymouth (4)

United States of America

• University of Utah assures guaranteed housing for the first-year students admitted in Fall 2024 (5)
• San Diego City College breaks ground on an 8-storey affordable student housing complex with a $75 million state grant for construction and design next year (6)
• San Jose City Council approved the deal to convert 235 guest rooms of ‘Signia’ by Hilton Hotel into student housing, to meet the housing demand for San Jose University students (7)
• University of Texas at San Antonio hosts a groundbreaking ceremony for “Blanco Hall”, a student housing facility adding 600 beds for first-year students, expected to open in June 2025 (8)
• JLL Capital Markets secures $63 million for refinancing of ‘Vie Towers’, a luxury student housing community located in Washington DC (9)
• Eric Newton Real Estate begins construction of ‘Maverick Hills’, a 517-bed student housing facility located near Clemson University campus in South Carolina (10)
• Appalachian State University reveals plans for a public-private partnership to construct 1850-bed on campus student housing facility (11)

Australia

• Sydney North Planning Panel approves AJC-designed 732-bed student accommodation facility in Macquarie Park, construction to begin in coming months (12)
• South Australia attracts 25 institutional investors, including Morgan Stanley, showcasing investment opportunities in housing sector to cater student housing needs and other commercial developments (13)
• New Homestay Quality Standards in Australia aims to boost student accommodation confidence amid housing shortages (14)

Europe

• Italy's Lazio region inaugurates student residence in Ostia, providing 51 new accommodations to address student housing emergency (15)
• Grupo Lar acquires Madrid's Maria de Molina property for €204.7 million, plans to redevelop 20-storey building into a student residence and 'branded residences' in Spain (16)
• Venice approves plans to convert six historic properties into student residences in Italy, adding nearly 800 housing units (17)
• New West Campus private student residence opens in Niort, France, offering 71 furnished apartments, with almost half already reserved (18)
• Spain's Livensa Living to invest €700 million by 2028, doubling portfolio to 20,000 beds in flex living and student residences (19)
• 32,000 students put on waiting lists in Germany amid housing crisis, urgent need for 700,000 additional apartments according to Eduard Pestel Research Institute (20)

Canada

• Okanagan College Vernon Campus advances on constructing a new student housing, offering accommodation for 100 students, expected to open in Fall 2024 (21)
• Georgian College partners with EY Canada to create student housing strategy for Barrie through a 6-month project involving data collection and consultations with students (22)

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