Amber Beat: Student Accommodation Market News - August 2023, Week 03

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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 August 11-August 17, 2023

United Kingdom

• UCAS chief urges UK to embrace international students for global educational competition with Australia, Canada, and the US (Erudera)
• StuRents data anticipates student accommodation crisis; projecting 620,000 bed shortage by 2026, from 5000 in 2018, Glasgow and Manchester to suffer the impact (PBSA news)
• 240,000 students struggling for accommodation as record rent increases for student housing: London leads with average annual rents up by £1,210 in HMOs and £2,377 in PBSAs, Durham experiences a significant rise of £1000 (Telegraph)
• CBRE research highlights Bristol’s student accommodation crisis, revealing over 350,000-bed shortage as demand soars by 8,000 since 2018 (BLUK)
• Widespread student housing crisis in Wales calls for Welsh government’s attention as 8% face homelessness, 25% struggle for affordable accommodation, 32% unable to pay rent (FEnews)
• Universities in Bristol and Edinburgh struggle to guarantee housing; leading students to commute from different cities and resort to hotel stays in starting term (DMO)
• Former education secretary attributes UK accommodation crisis to post-Covid demand surge from international students (Telegraph)

New Construction (United Kingdom)

• Two-tower blocks with 619 student rooms to rise in North London despite locals’ concern for antisocial behaviour by students; Tribe Student Housing’s Head of Planning assures secured property management (ML)
• Unite Students enhances Durham's Rushford Court for expansion to house 358 students amidst university redevelopment (PBC)
• Alumno secures planning consent for new student accommodation in Manchester with 261 rooms on Moss Lane East (UL)
• Former Bingo Hall near Durham University to be converted into student accommodation with 128 beds, opening by 2025 (NE)
• Urbanite Living initiates £33 million Glasgow student accommodation project “Clyde Court”, to address housing shortage with 169 modern studio bedrooms (thetab)
• Closed care home in Durham City could be transformed into student accommodation as plans submitted for conversion into 9 flats with 69 bedrooms (TNE)

United States of America

• The Michaels Organization successfully completed the construction of “Orchard Park Residence Hall”, a $330 million student housing facility that will house 1,549 students of UC Davis, the university's largest housing program in its history (MHN)
• Loyola University Chicago acquired a $35 million, 58-unit apartment building, right next to its north-side campus to expand their student housing capacity (CB)
• Greystar and Tikehau partner up and secure loans totaling $162 million to refinance 1173 beds, situated in Oregon and Washington (MHN)
• Core Spaces Schenk Realty and Kayne Anderson Real Estate, secure a $233.3 million construction loan for “Hub Knoxville’” student housing project of 2000 beds in Knoxville, set to open in the fall of 2025 (Wate)
• The University of Evansville starts construction of a $20 million student housing project, consisting of 55 units with one, two, or three-bedroom apartments, expected to open in August 2024 (IIB)
• Lake Tahoe Community College breaks ground for a new student housing project that will provide affordable homes to 100 low-income and full-time students (TDT)

Australia

• Rising housing costs drive Australians to embrace shared accommodation, inner Sydney sees a 10.8% surge but affordable solutions remain limited (SEDU)
• South Australia launches innovative initiative to address the housing crisis, a new partnership to develop career pathways for students to become environment professionals (premier)

Europe

• France's Saint-Etienne unveils new student residence close to City Center, 175 studios with affordable rents offering ideal accommodation from this August (actu)
• New student residence managed by the Porto student association opens in September, historic centre location to accommodate 40 beds, equipped with modern amenities (EPT)
• Bremerhaven welcomes 'Casa Mar', a student residence in Germany that offers 52 furnished apartments, ready for September move-in near the university (nord24)
• Major Letterkenny development in Ireland granted conditional approval, 240,000 sqft project featuring 154 student bedrooms, apartments, and retail spaces (DGL)
• Welcome Home expands student housing in Milan, Italy, with two new residences to open in Bocconi and Navigli areas, adding 50 beds, backed by Intesa San Paolo Investment (CNZ)
• Irish Universities are to receive state funding of €61 million for the development of 1000 student units, but the beds will not be available for this academic year (IT)
• Dutch student housing shortage spurs innovative solution, Municipalities urge residents to rent vacate rooms, easing crisis (NLT)

Canada

• Montreal's Plateau-Mont-Royal borough is set to welcome a new student housing building with up to 200 affordable apartment units, easing the accommodation crunch across the city (CBC)
• UBC unveils ambitious strategy for student housing expansion, addressing growing demand for accommodation (dailyhive)
• The Federal Government maintains immigration plan amid housing crisis, reassesses international student influx (ctvnews)
• Montreal's skyrocketing rents drive students toward shared compact apartments, reveals UTILE study (ctvnews)
• Lambton College selects three developers to submit proposals for a modern student residence in Sarnia, aiming for an opening by 2027-2028 (theobserver)

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