Amber Beat: Student Accommodation Market News - October 2024, Week 01

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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 September 27 - October 3

United Kingdom

• Winvic Construction tops out 24-storey Lisbon Street PBSA in Leeds, featuring 548 single occupancy, en-suite bedrooms, set for completion in August 2025 (Source)
• Blacklight Capital Partners complete ‘Limelight’ PBSA in Liverpool, featuring 535 luxury beds with a GDV of over £60 million, ready for the 2024 academic year (Source)
• Edinburgh site on McDonald Road launched for development, proposing a 235-bed student accommodation and 75 built to rent private rented apartments (Source)
• Gylemuir Capital and Housing Growth Partnership (HGP) receive £13.1M loan for a 163-bed purpose-built student accommodation development in Dundee (Source)
• CHAP Group tops out 98-bed student accommodation project on Douglas Street, Dundee, set for completion by 2025 (Source)
• Scotsman Hospitality launches ‘SPACE’ student accommodation in St Andrews, converting former Kilrymont High School into self-contained studios and apartments, set to open in AY 2025-26 (Source)
• Stepnell completes major refurbishments at University of Southampton for AY 2025-26, enhancing student accommodation and teaching facilities (Source)

United States of America

• Subtext unveils ‘VERVE Orlando’ with 200-unit, 626-bed student housing community near UCF, construction to be completed in 2026 (Source)
• UVA Darden breaks ground on estimated $150M residential student housing project in Charlottesville, featuring 350 beds across 218 apartments (Source)
• Dartmouth College announces construction of ‘Russo Hall’, featuring 285 beds with a $30 million investment, set to open in 2026 on West Wheelock Street (Source)
• Canyon Partners joint venture to develop ‘The Valiant’, an 83-unit, 262-bed student housing community at 2538 Durant Ave., UC Berkeley, set for completion before the 2026-2027 academic year (Source)
• Havenly Ventures acquires ‘Geddes Hill Apartments’ and ‘The Row’, adding 200 beds to its student housing portfolio in Ann Arbor, MI, and Blacksburg, VA respectively (Source)
• Kennedy Wilson expands student housing construction loan portfolio to $850 million with $184 million financing for projects at University of Wisconsin-Madison, University of North Texas, and UC Berkeley (Source)
• Tripalink acquires ‘Varsity’; expands its portfolio to 15,000 units with 3,900 beds on East Coast for student housing (Source)
• Catholic University breaks ground on new development featuring 19 two-bedroom units and two larger traditional-style buildings in Washington, D.C., with some units expected to be potentially available by the second semester of 2024 (Source)
• Lawrence University unveils ‘Fox Commons’ with 23 apartments housing 86 students in Appleton, Wisconsin (Source)
• Mt. Hood Community College opens 75 studio units at ‘Abigail Court’, welcoming students for the Fall 2024 term in Gresham, Oregan (Source)
• Subtext plans 259-unit community in University City, Missouri, slated for completion in Summer 2026 (Source)
• IPA Capital Markets secures $17M for 62-unit student housing acquisition near University of Michigan in Ann Arbor (Source)
• Agador Spartacus secures $32M loan for ‘Magnolia at Spring Hill’, a 162-unit built-to-rent community in Spring Hill, Florida, set for completion in 2025 (Source)
• Demolition of GVO nightclub clears way for new student housing development on Railroad Avenue in Tallahassee (Source)

Australia

• Amber, a global leader in student housing, has released its 'Australia Student Accommodation Annual Report (2024-25)', offering insights into the evolving Australian student housing market and key trends shaping the sector (Source)
• Dexus partners with Marquette Properties to transform a Brisbane office tower into a $500 million dormitory to accommodation 1,200 students, located near Queensland University of Technology campus (Source)
• Sentinel acquires North Melbourne site, plans to deliver around 350 sustainable rental apartments in two buildings at 23-47 Villiers Street in Melbourne's Biomedical Precinct, as part of its Build-to-Rent venture with PGGM (Source)

Europe

• The Terrefort development’s block 5 to include 371 housing units, with 112 for students, plus shops and a wooded park, delivery expected in 2024-25 (Source)
• The former 18,000 sqm INPS building on Via Gramsci to be converted into a 679-bed residence, with 526 beds for student use (Source)
• Xior has opened its second student residence in Zaragoza, offering 380 beds for students from Spain and overseas (Source)
• A new student residence with 99 apartments is under construction in Bochum-Weitmar, set for completion in summer 2025 (Source)
• Jagiellonian University aims to build a new student residence in Ruczaj, requires funding over PLN 250 million, first phase of construction set to be completed in November 2025 (Source)
• The largest student residence hall at the Medical University in Poznań is currently being renovated, worth PLN 53 million, set to be completed by November 2025 (Source)

Canada

• More than 12,000 international students have recently applied for asylum in Canada as their visas approach expiration, post the implementation of two-year cap on international student permit applications, set in place to address pressure on housing (Source)

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