Amber Beat: Student Accommodation Market News - December 2024, Week 02

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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 December 05 - 12

United Kingdom

• Maslow Capital provides £31.3M for RedOak Property's 184-bed PBSA development in Bristol to address the 5,100-bed shortfall (Source)
• Unite Students acquires £126M Glasgow site for 934-bed student accommodation, boosting city’s housing supply (Source)
• Vita Group secures planning for 591-room PBSA at Glasgow’s India Street, addressing city’s 58,000-bed shortfall (Source)
• Edinburgh's £2B West Town Development to include 300-room student housing as part of 7,000-home scheme (Source)
• BR Consultants unveils plans for mixed-use PBSA development in Edinburgh, featuring 7% studios and 93% cluster flats (Source)
• £50M student accommodation complex with 447 rooms under construction near Bristol’s Temple Meads Station (Source)
• Belfast City Council approves 821-room student accommodation project in Castle Street/Queen Street area, set for 2027-28 (Source)
• London student rents surge 18% in two years, now exceed maintenance loan, HEPI’s 2024 accommodation costs survey reveals (Source)
• Former Dundee care home to be converted into 34 flats to accommodate 36 students, amid city's 3.15:1 student-to-bed ratio crisis (Source)
• Meadowbank’s transformation continues with new 7-storey student housing development set for 2026, adding to hundreds of planned homes in Edinburgh (Source)
• Fresh seals deal with EC Brighton for Pavilion Point PBSA, offering 2024-25 students top-tier facilities and gold-certified accommodation (Source)
• Sunderland approves conversion of Olive Street shops into 46 studio flats for University of Sunderland students (Source)

United States of America

• U.S. removes China, India, and 25+ countries from J-1 Skills List, easing status change and permanent residency for J-1 visa holders (Source)
• U.S. first-year college enrolments decline by over 6% in fall 2024, signaling potential "enrollment cliff" ahead, with financial aid delays playing a major role in the drop (Source)
• MPOWER Financing reports 15x income growth for international graduates, contributing $43.8B to the U.S. economy, with 92% relying on financing to study abroad (Source)
• India sees 38% decline in F-1 student visa issuances to the U.S. in 2024, with 64,008 visas granted between January and September, compared to 1,03,495 in 2023 (Source)
• Northwest Missouri State University ranks 14th for international student enrollment, with 1,742 students enrolled in 2023-2024, marking a 36% increase from the previous year (Source)
• Indian international students surpass Chinese in the U.S., with 331,602 students enrolled in 2024, marking a 23% increase over the previous year (Source)
• Harrison Street sells 14 U.S. student housing portfolio assets comprising 8,724 beds across 13 universities in 11 states, including Texas A&M and University of Arkansas for $893M (Source)
• Investcorp acquires four student housing properties with 3,000 beds for $300M at Texas A&M, Texas State, University of Kentucky, and University of Oklahoma (Source)
• Gilbane and CBREIM JV to develop 6 PBSAs with nearly 3,000 beds across Clemson, Syracuse, UC Berkeley, and more (Source)
• Blue Vista and Clarion acquire 2,787-bed student housing portfolio with 855 units serving Penn State University, College of Charleston, and Texas A&M (Source)
• URI plans 1,100 new student beds in Kingston with Gilbane Development, aiming for completion in Fall 2027 (Source)
• JLL secures financing for Hartwell Ridge, a 488-bed student housing project at Clemson University, set to open Fall 2026 (Source)
• Fresno State breaks ground on $53.7M, apartment-style student housing project for 228 students in Fresno, California, set to open by Fall 2026 (Source)
• LV Collective’s $7.25M 'Rambler' student housing project with 273 units at 711 Church St, Ann Arbor, almost set for completion (Source)
• Salve Regina University to build new residence hall for 205 students at Shepard and Lawrence Avenues, with construction starting in Spring 2025, completion set for Fall 2026 (Source)
• College Housing Northwest opens Abigail Court in Gresham, Ore., with 75 affordable units for students, funded by a $6.6M Project Turnkey grant (Source)

Australia

• Australian Government prepares for major reforms in Migration Strategy, including simplification of immigration process for international students & replacement of TSS Visa with Skills in Demand Visa from December 7th, 2024 (Source)
• Australian Government withdraws legislation to impose capping on foreign enrolments due to insufficient parliamentary support, opting to rely on MD107; expected to introduce new method to limit international student numbers (Source)
• Australian Trade and Investment Commission's data reveals Australia among top 3 study destinations for female international students, nearly half of the international cohort, with female enrolments reaching 332,500 in March 2024 (Source)
• HS Optimus Holdings Limited submits planning permit to redevelop 3,745 sqm freehold property in Carlton, Victoria, into PBSA development (Source)
• Application lodged for Rooming Accommodation & Cafe, at 47 Old Dayboro Road, Petrie in Australia, designed by Plus Architecture to add 301 student accommodation rooms (Source)
• Dexus submits bid for Australian portfolio of Campus Living Villages, reviving its previously unsuccessful $2 billion sale attempt from 2016 (Source)

Canada

• Canada's student housing crisis persists despite study permit cap, with 400,000 additional beds needed nationwide, as estimated by BONARD (Source)
• Canada's visa cuts adversely impacting international student market, with the U.S. and U.K. overtaking Canada as top choices, experts warn (Source)
• University of Guelph plans 4,000-bed student housing expansion by 2035, including Wellington Woods redevelopment, and new residences at Gordon St. and College Ave. W. (Source)
• Non-profit Student Housing Nova Scotia proposes off-campus housing development, seeks $5 per semester contribution from students across Halifax and Wolfville universities (Source)
• Applications open for 60-unit student housing at Okanagan College's Salmon Arm campus, for January 2025 semester (Source)

Europe

• LaSalle and Urbania's JV to deliver over 850 PBSA beds in Barcelona, with construction permits secured for a 14,500 sqm facility, scheduled to open in September 2025 (Source)
• CBRE Investment Management expands with acquisition of 928-room development with 1,075 beds in Milan, its second largest student housing scheme in Italy (Source)
• Greykite European Real Estate Fund, in a JV with Equilibria Group, agree to acquire 8,000 sqm vacant hotel, as a part of €250 million PBSA strategy in Munich (Source)
• The Social Hub to open 3 new hubs in early 2025 across 19 major European cities, comprising hotels, student accommodation & coworking spaces (Source)
• Former Gateway House office building in Antwerp South, Belgium, to be repurposed into 'Anversa' project with 223 student rooms & 30 studios, located near KDG University (Source)
• The Mur, the Ministry for University and Research announces €30 million investment, allocated to two institutes of Higher Artistic and Musical Education (AFAM) in Umbria, Italy to increase bed supply (Source)
• The Mur, the Ministry for University and Research, invests over €40 million in new student residences in Veneto, Italy (Source)
• Cardinal Campus plans to expand its presence in Spain by 2025 with four new projects, including an 84-apartment development in Valence, slated for completion in Fall 2025 (Source)
• Purposia Group acquired ‘The Kampus Palace’ student housing project, a former hotel in Ostrava, Czech Republic to build small-sized rental apartments for students, & other tenants, expected completion by 2030 (Source)
• €7M investment to transform orphanage at Calle Muro, Valladolid into university residence by AY 2025-26, with first phase of remodeling underway (Source)
• European investors to focus investment in retail, industrial & student accommodation next year, with turnover expected to pick up in 2025 (Source)