Amber Beat: Student Accommodation Market News - June 2023, 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 June 02-08, 2023

United Kingdom

• Financial crunch causes SRUC’s Elmwood College, Scotland, to tear down 72-bed student residence and golf course; students call for investments to stop the cut down (Fife Today)
• Cambridge student paramedics endure two-year housing nightmare (Cambridge-News)
• CBRE’s latest survey reveals Edinburgh and Glasgow’s real estate sector to continue its upward growth trajectory in UK real estate sector for next decade  (Scottish Business News)

New Construction (United Kingdom)

• Construction begins on £200m York student scheme in partnership with Q Investment Partners and S Harrison: 303-bedroom development to meet rising demand for high-quality accommodation (The Business Deck)
• University of Manchester to redevelop Fallowfield Campus accommodation with up to 3,300 new bed spaces, set to complete by 2025 (Manchester.ac.uk)
• JV between UPP and Architype to develop greener student accommodation for UK Universities, starting with 1,700 passivhaus-grade rooms at University of Exeter's Clydesdale and Birks Residential Project  (Construction Enquirer)
• £180M JV between McLaren Property and Student Roost to develop three new student accommodation schemes; includes 1,387 beds across prime locations in Warwick and Brighton (The Business Magzine)
• Manchester City Council approves ambitious mixed-use project including 1000 student beds and 2000 office desks space at One Medlock Street by Whitbread and Dominus (The Construction Index)
• University College Birminghum proposes redevelopment of student accommodation at Cambrian Wharf, purposed to create modern hub for 850 students (The Business Deck)
• Fusion Students reveals images of £76M plan for 634 student beds development, replacing historic Marks & Spencer building in Glasgow's Sauchiehall Street (Glasgow Live)
• Downing Students' 12-storey student accommodation complex with 313 rooms to revive fire-damaged NE4 Café Site in Newcastle (Chronical Live)
• Northern Ireland investment fund provides loan for 307-bed scheme and reaches £100M funding milestone with £21.3m PBSA development in Belfast's Central District, to be completed in August 2024  (Belfast News)
• Coventry Counsil to review SAMA investment’s renewed plans for 130-studio student accommodation by Sherbourn riverside (CoventryLive)

United States of America

• O-C Ventures acquires premium student apartments near the University of Rochester for $10.2M, adding 92 beds to the student housing portfolio (RBJ)
• Orlando’s student housing market is gaining traction: Brent Little plans to develop a 605-bed student housing less than a mile from UCF. In the near vicinity, another developer plans to build student housing with 556 beds (Orlando Sentinel)
• The Preiss Company announced a major renovation for a 486-bed “The Outpost San Marcos” student housing located in Texas (BusinessWire)
• Budget-friendly student housing facility providing space to house up to 288 students coming to CSU. The project is expected to commence in Feb 2024 and will get completed by May 2026 (urbanize)
• A new affordable co-living community in Lincoln Park offers 431 beds with furnished rooms starting at $14000 per month at Post Chicago (axios)
• Students are facing a terrible shortage of housing options in Chico State as Whitney Hall closes and the situation remains unchanged for the upcoming academic year (Action news)
• Climate change poses a threat to new and existing student housing construction in Arizona and to secure them in California and Florida (yahoo news)

Australia

• Building Code Restrictions exacerbate student accommodation shortfall: Property Council NT warns of economic impact as Darwin reports 1 bed per 33 students (ntindependent)
• Australian Government increases work hours for international students to ease cost-of-living pressure: Cap raised to 48 hours per fortnight (erudera)
• CDU's StudyStays Program addresses the student housing crisis: Northern Territory residents to house international students, filling accommodation gap (architectureanddesign)
• University of Guelph seeks zoning variances to convert Days Inn hotel into student residence: Proposal to lease property for three years, starting from Aug 1 (guelphmercury)
• Students and retirees show a trend to stay in Build-to-Rent properties in Melbourne due to better amenities and long-term lease options (WAtoday)

Europe

• Italian student housing crisis addressed with IGeneration fund to bridge the gap with €130 million investment, creating 1,800 smart residences, meeting the demand for 80,000 new beds (wikicasa)
• Former Airbus offices in Suresnes transformed into student accommodation, providing 272 units for students and professionals, with a budget of €44 million (actu.fr)
• Lamotte's Fo'Lo program offers 118 student residences in Saint-Malo, providing fully equipped housing in a prime location (Ouest-france)
• Tristan Capital Partners' TIPS fund provides €80m financing to transform Paris mixed assets into educational campus and student housing at Hotel Scipion (creherald)
• Developer Bindford Limited submits planning applications for 196 apartments, including 118 Build-to-sell and 78 Build-to-rent, on site of Old Bakery in Phibsborough (thejournal.ie)

Canada

• Despite a huge number of international students and investment prospects, Canadian student housing lags far behind the United States and Europe (renx)
• Calgary Council rejects plea for housing affordability and disappoints communities including student union of the University of Calgary (globalnews)

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