Amber Beat: Student Accommodation Market News - June 2023, Week 04

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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 23- June 30, 2023

United Kingdom

• UK's ban on international students' family members not targeted at Nigerians, but reflects infrastructure concerns, British High Commissioner clarifies (Erudera)
• Dependent visa ban in UK raises concerns for student housing landscape, student housing solutions expert anticipates dire impact on HMOs (FPJ)
• McAleer & Rushe secures £440m worth of contracts, expands presence in student accommodation sector with 1,400 beds in Greater London, Midlands, and Scotland (PBSA)
• Elizabeth line revolutionizes student housing in London, bringing affordability and connectivity, shedding light on student-to-bed ratio of 3.44x and PBSA beds undersupply for 64% students (PBSA)
• Shawbrook backs Three Tuns Development's £18m funding for semi-commercial student accommodation project in Durham city centre (BA)
• Swansea University partners with True Student in £13m deal, providing accommodation for 550 students annually (IM)
• Leumi UK provides £9.26m loan for Patron Capital and Curation Capital's JV to acquire and refurbish 117-bed purpose-built student accommodation in Manchester's Fallowfield (TBD)
• Fresh Student Living takes over management of 130-bed Kingston Plaza student accommodation in London, extending partnership with Northridge Capital (PBSA)
• Uni Compare rankings: University of Liverpool claims top spot overall, Edge Hill takes first place for best accommodation, followed by Aberystwyth University and Loughborough University (UC)
• Reading council rejects plan to replace abandoned Trinity Hall student halls with flats (Yahoo)
• Construction progresses on a new five-storey student accommodation block with 156 flats at former Marks and Spencer site in Brighton (Arugus)

United States of America

• The 908 Group and BCDC partner together to break ground on a student housing facility near Florida State University, which will house 693 students and is set to open in August 2025 (ReBusiness)
• The City Council approves a 166-foot-tall "High-rise" student housing complex with 733 beds near South University Avenue (Michigan)
• A 115-unit student housing project named "Santa Monica" has been proposed in Los Angeles. The developer has guaranteed 16 affordable housing units, with the remainder consisting of micro studios and one-bedroom flats (WHVille)
• The University of Iowa asks for $45M for a student dorm capable of accommodating 1000 students at once. This is a step forward in the university's 5-year plan to improve student housing (RD)
• Madison City Council votes down rezoning for a massive 12-story student housing complex with 232 units (Madison)
• UC San Diego undertakes new development in order to meet the high demands of student accommodation with on-campus housing (KPBS)

Australia

• Student housing providers exploit regulatory gaps, denying renters protections and burdening students (The Age)
• Lendlease and Melbourne City Council, collaborate on a $1.7 billion project, including 1100-bed student accommodation tower, to be developed by Scape in Queen Victoria Market Precinct (Theage)
• UNSW’s student housing mega-complex in Sydney faces backlash, rooms rents cross $650 per week exceeding welfare benefits, with fewer options available for specially-abled students (CHS)
• Rising living costs drive more Australians to rent spare rooms to international students, as homestay applications doubled in Australia, highlighting the housing struggle (ABC)

Europe

• Mansart Residence transforms student accommodation in Dijon, over 50,000 students benefit from enhanced living spaces and quality of life, with €26m renovation investment (Infos)
• Cork City, Ireland faces student housing crisis as hundreds of beds are reserved for Ukrainian refugees, leaving students homeless (IE)
• Hines Invests €100 Million in the first student residence in Spain, adding 1,500 beds in Barcelona by 2025 (ECM)
• Technological Universities in Ireland launch strategic plans for student accommodation, addressing regional demand and increasing supply (Govie)
• Amsterdam addresses student housing crisis, 563 student residences under construction at Hyde Park to meet growing accommodation demand (HCN)
• Greystar expands its European portfolio by acquiring 310 bed-PBSA site in Paris, enhancing student accommodation offerings in the city (PBSA)

Canada

• The University of Guelph secures a lease at Gordon Street, expanding residence capacity by 160 beds for the next three years (uoguelph)
• Thompson Rivers University announces an ambitious capital plan with five major projects set to transform the campus and expand student housing (KTW)
• UTILE announces $35M, 13-Storey affordable student housing project at Montreal's Ontario Street and Saint-Laurent Boulevard, accommodating 280 students (radiocanada)