Amber Beat: Student Accommodation Market News - December 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 December 13 - 19

United Kingdom

• UK Universities urged to improve support for Chinese students as numbers decline 7.7% over two years, HEPI reports (Source)
• Long Harbour joins forces with Rosethorn Capital to target 10,000 PBSA beds in major UK university cities by 2030 (Source)
• Melburg & TPG secure £75.5M for Bristol’s first Eco-PBSA Scheme, offering 399 beds and targeting BREEAM Excellent Certification (Source)
• Vita Group secures £52M loan for 267-bed student accommodation in Edinburgh, part of £240M new Waverley Project (Source)
• Dundee approves 367-bed student flats on former fire-hit furniture store site (Source)
• Sunderland City Centre to gain 46 new student studios after council approves million development (Source)
• Samsung Partners with Boxbuild to deliver smart technology for 1,000+ BTR and PBSA units in the UK, starting 2025 (Source)
• Soller Group secures approval for Bank-to-PBSA conversion on Oxford Road offering 20 student flats and 3,000 sqft commercial space (Source)
• Student Tribe secures £10.5M loan to refinance 50 HMO student properties across UK cities for 2025/26 academic year (Source)

United States of America

• F-1 visa holders in the U.S. can work 20 hours per week on-campus and 40 during breaks, with further opportunities through CPT and OPT programs (Source)
• Presidents’ Alliance commends finalized DHS H-1B modernization rule, streamlining employment authorization and supporting international students and scholars (Source)
• International Baccalaureate announces 7.4% increase in November 2024 exam results, with 156 U.S. students and 21,894 globally receiving their DP and CP results (Source)
• Montcalm Community College approves $8.5M bond for 84-bed residence hall on Sidney campus, set to open fall 2026 (Source)
• UConn to add 13,900 student housing beds at Storrs and 1,025 at Stamford campuses, with expansion starting in 2025 and 2026 (Source)
• Subtext breaks into Virginia market with VERVE Charlottesville, a 1,332-bed student housing development near UVA, opening Summer 2027 (Source)
• University of Rhode Island and Gilbane to build 1,100-bed housing on Kingston campus, occupancy by Fall 2027 (Source)
• FAU Finance sells $117.8 million in bonds to fund student housing project in Boca Raton, Florida, with 670 beds across 204,000 sqft (Source)
• Monarch student housing project planned for Cullowhee, NC, with 540 beds and 153 units near Monteith Gap Road (Source)
• KU's $759M Gateway District project adds 450 student beds, 162-key hotel, and expanded parking in Lawrence, with Phase 1 set to finish in August 2025 (Source)
• Dartmouth begins construction of 285-bed student housing at 25 W. Wheelock St., Hanover, set to open by Fall 2026 (Source)
• Purdue approves $29M, 150-bed residence hall at Purdue Northwest and extends 272-bed lease at LUX on Capitol, Indianapolis, for 2026-27 (Source)

Australia

• Australian Bureau of Statistics reveals 25% decline in student visa holders for Australia from 278,000 in 2022-23 to 207,000 in 2023-24 (Source)
• The ESOS Bill is on hold as MD107 regulates Australia's student visa system, prioritizing student & guardian visas, potentially leading to 60,000 fewer visas granted than last year (Source)
• GIC-Wee Hur Holdings sells its student accommodation portfolio of more than 5,500 beds across key Australian cities to Greystar for A$1.6 billion (Source)

Canada

• Canada's foreign student enrolment drops 47% under new immigration cap, leading to college closures and job cuts, particularly in Ontario (Source)
• Indian students in Canada face major setbacks as new immigration policies lead to enrollment decline, uncertainty in education and job prospects (Source)
• Tartan Downs housing project in Sydney, N.S., seeks funding to begin $62M development with 145 student units in first phase, targeting Cape Breton University students (Source)
• HN Housing and Fanshawe College convert Simcoe's Oakwood Avenue units into affordable student housing for seven students (Source)

Europe

• 2024 European Purpose-Built Student Accommodation Investment Barometer by Class Foundation & Savills, predicts European PBSA sector growth by 70 pct over next 5 years, adding 220,000 beds (Source)
• Ardian and Rockfield, announce first investment of pan-European PBSA strategy for Italy, the Netherlands, Spain, Portugal, Germany, and France, with initial commitment from CBRE IM, and dry powder of about €800 million (Source)
• Netherlands province warns against curbs on international students, expected to cut budget by €300 million, adversely impacting region’s economy (Source)
• Nido Living announces opening of €28 million 177-bed student accommodation ‘Nido Plaza Castilla’, its third project in Madrid, Spain, scheduled for January 2025 (Source)
• Construction begins on 676-bed student accommodation, the largest student residence in Zaragoza, Spain with completion expected in September 2026 (Source)
• Savills reports Spain's student residences to reach 116,000 beds in 876 locations by 2024, with 8% growth projected in 2025, led by expansions in major cities like Madrid, Barcelona, Seville, and Granada (Source)
• Nuveen and GSA acquire €540 million ($567 million) student housing portfolio comprising 3,600 beds in Bordeaux, Lille, Lyon, Marseille in France (Source)
• Universidad Miguel Hernández de Elche (UMH) plans for a residence for 200 students in Elche, Spain; pending approval from City Council (Source)
• Flaminia Foundation plans to add 97 places in 22 apartments in Isola San Giovanni, Italy for university students, expected to be operational by 2026 (Source)
• Graz-based company plans to add student apartments at Völkermarkter Ring 3, Klagenfurt in Germany (Source)