Amber Beat: Student Accommodation Market News - August 2023, Week 05

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 August 26- 31, 2023

United Kingdom

• Asian investors lead UK student accommodation market to capitalize on 350,000 student bed shortage, investment surge observed with QIP and Soilbuild's £200 million venture among prominent moves (SCMP)
• UK landlords raise concerns over potential drying up of student rental accommodation due to fixed-term tenancy ban in Renters Reform Bill (Telegraph)
• Apollo House, Coventry to change the property’s use due to financial constraints in operating student accommodation affecting 28 students, Essential Student Living to provide alternate housing options (BBC)
• Councillor raises concerns over student housing scheme's impact on historic 1500s building and parking issues in Kegworth (LM)
• Prestige Student Living’s agreement with owners of Huddersfield student block revoked to provide shelter for 405 migrant asylum seekers (LBC)
• The Decent Project’s post-move-out clearance program successfully drives green initiative for waste management in Swansea University’s Hendrefoilan Student Village residence (SU)

New Construction (United Kingdom)

• Watkin Jones reaches milestone in 800-bed student accommodation scheme, Metalworks, in Bristol with topping out ceremony, set to benefit University of Bristol students (BL)
• Construction set to commence on 935-bed student halls complex at University of Kent campus, project to transform into hotel during semester breaks (KO)
• Vita Group submits plans for 289 student flats in Edinburgh's New Waverley North, redirecting from home development (HS)
• Durham sees new student accommodation projects with 128 bedrooms by PMI developments and Peveril Securities, and 69 bedrooms by Unity Living (Palatinate)
• Urbanite Living secures £18.85 million financing for Glasgow's Clyde Court, providing 169 accommodation rooms for students of University of Glasgow and University of Strathclyde (HN)
• Former Edinburgh nightclub "Atik" to be converted into 145-bedroom student accommodation development by Silvermills Estates and Lands (EL)
• Vita Group proposes student residential complex and affordable homes in Glasgow's India Street, Charing Cross (SHN)

United States of America

• Ivy residence halls of the University of Massachusetts to house 7,500 students from 51 countries, booked to full capacity with 150 students waitlisted currently (Erudera)
• More than 3,900 students begin moving into the University of Wisconsin-Milwaukee’s residence halls, ahead of the 2023-24 academic school year, UWM Communications Director addresses media (UWM)
• UC Berkeley to soon break ground on a $312 million student housing project to house 1,100 students in People’s Park, awaiting the Governor’s approval and signature on California’s Environmental Quality Act (CEQA) (KQED)
• Boise State University, Idaho expected to conclude a new student housing project costing a staggering $50 million by fall 2025, predicted to house 217 students, high rents may urge students to seek financial aid (The Arbiter)
• Brand new Copper Apartments and Santa Cruz open doors to house 725 beds and nine additional study rooms, adding social buzz near the Grand Canyon University Campus (GCU)
• The University of Houston pushes move-in date, nearly 700 students to face lack of housing for the first week of college, expected to be provided with hotel accommodations (ABC13)
• Middlebury College in Vermont to offer 40 selected junior and senior students a $10,000 stipend each, to skip the fall and winter semesters amidst the major student housing crunch (VermontPublic)
• The University of Alaska Anchorage, Alaska increases 20% on-campus accommodations with financial backing and gets fully booked, 240 out of 709 students move into the residential halls on the first day (Alaska’s News Source)
• The College of the Redwoods in Eureka, California seeks housing assistance from nearby Bear River Casino Resort, and partners with the Tribal Casino to utilize hotel rooms as dormitories (Casino)
• Scope Commercial Real Estate Services LLC (SCOPE) sells a 480-bed, 120-unit student housing complex near Shippensburg Campus for Maverick Apartments LLC at a whopping $13.3M (CPBJ)
• Walker & Dunlop Inc. announces the sale of The Arcade Residencies in Chicago, IL for $35 million, offering students a variety of en-suite rooms with high-end amenities (Business Wire)

Australia

• Melbourne's record surge in student housing growth and aged care rebound amidst offshore migration influx, adding 111,000 people to city's population (NC)
• International students struggle with financial knowledge amid the housing crisis, over half are unprepared financially, only 29% find opening bank accounts easy; shocking 16:1 student-to-bed ratio observed (Savings)

Europe

• PBSA Owner and Operator “Kexgill Group” re-enters the German PBSA Market after 15 years with fully occupied portfolio and strategic expansion plans in North Rhine-Westphalia (PBSA)
• Amsterdam's student housing crisis escalates with shortage of 26,000 units across the Netherlands; over 30,000 new students struggle for affordable accommodation (31mag)
• Porto and Lisbon witness soaring student accommodation rates, prices surge by 10.5%, average €425 and €450 per month, respectively (TPN)
• Zamora Mayor Guarido urges reopening of Old CEI student residence to address rising university enrollment demand in Spain (EPL)
• Demand for modern student living rises as private dormitories in Poland gains traction with foreign scholars, creating a boost for thelocal economy (SSP)

Canada

• The University of Calgary, Alberta records the highest number of student housing applications with a 37% increase post-COVID, 3,000 students moved in, and around 80 students are still waitlisted, compelled to seek other accommodation options (CBC)
• Holland College considers potential reduction in international student admissions amidst housing shortfall (CBC)
• Nova Scotia University Towns push for on-campus housing to ease community conflicts and student housing shortages (CBC)

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