Amber Beat: Student Accommodation Market News - November 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 November 08-14

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United Kingdom

• UK Universities face 16% drop in student visa applications as foreign students choose other destinations (Source)
• UK faces critical shortage of 350,000 PBSA beds as demand surges; investment needed to address housing crisis (Source)
• Canary Wharf set to add 46-storey, 912-bedroom student tower, boosting housing facilities with 35% affordable rooms (Source)
• Salford's High-Rise Towers to be demolished for 1,500-room student accommodation redevelopment (Source)
• Newport's Sovereign House proposed for conversion into 112 student flats, boosting local accommodation options (Source)
• Cain and Menora expand UK PBSA partnership, boosting £800M portfolio with new developments in key university cities (Source)
• Sama Investment Group submits plans for 4-15 storey PBSA development with multiple floors in Birmingham’s China Quarter (Source)
• Cross Country Partners and Ilkeston joint venture for 176-bed Nottingham PBSA with £231K public space contribution (Source)

United States of America

• CBC youth panel discusses U.S. election, international student work hours, and challenges in rental housing market (Source)
• UC’s Ron Cushing advises international students to prove financial ability for U.S. study visas, with 4,618 international students enrolled for Fall 2024 at University of Cincinnati (Source)
• University of Wisconsin-Superior named one of the most affordable U.S. universities for international students, with a total cost of $25,604 for AY 2024-25 (Source)
• Penn State partners with Greystar for 1,500-bed student housing complex at University Park, with 775 beds expected by 2027, completion by 2028 (Source)
• SDSU plans to expand student housing with up to 4,500 beds across 7 new buildings, set to break ground in 2025 in San Diego (Source)
• University of Wyoming's $285.5 million student housing project to offer 920 beds, with North Hall opening Fall 2025 and South Hall in Spring 2026 (Source)
• JLL secures $45M financing for Hawkins Way Capital’s acquisition of Garden Village student housing, offering 77 units near UC Berkeley (Source)
• LV Collective announces Rambler Levee District in West Lafayette, offering 583 student apartments, completion expected by Fall 2027 (Source)
• The Preiss Co. acquires 784-bed ‘The Collective at Lawrence’ for $41.3 million in Lawrence, Kansas, marking its first property in the state (Source)
• Gilbane Development and CBREIM partner to develop nearly 3,000-bed student housing portfolio across six U.S. universities, including Clemson, Syracuse, and UC Berkeley (Source)

Australia

• Australia's proposed cap on international student enrollments sparks concerns for Indian students, who make up over 125,000 of the student population in the country (Source)
• Student Accommodation Council report reveals proposed international student visa caps to reduce metropolitan rents by only 1% amid steady PBSA growth, indicating minimal impact on rents (Source)
• State Government finalizes plan for three new towers in Yagan Square area in Perth CBD, including one 19-storey student accommodation building on Roe Street to house over 1,100 students (Source)
• South Australia to unlock over $2 billion for five development projects, adding 3000+ to be repurposed for purpose-built student accommodation, BTR, hotels, etc. (Source)
• University of Melbourne’s Dookie Campus Student Accommodation Project worth $21 million completed and enhanced, adding 85 ensuites (Source)

Canada

• Canada ends fast-track visa program for students from India, China, Brazil, and 11 other nations amid policy changes (Source)
• Vancouver misses target, completes only 313 of 1,405 affordable rentals mandated in first year under B.C. Housing Supply Act; city-wide shortfall of 1,059 units in 2023-24 (Source)
• Seneca to close Markham campus temporarily in Winter 2025 due to federal visa cap on international students, affecting programs and housing (Source)
• UBC seeks community input on Wesbrook Place updates, adding 4,600 residential units, green spaces, and improved transit in Vancouver (Source)
• University of Guelph to build 1,500-bed first-year residence at College Ave W and McGilvray St, opening in 4-5 years (Source)

Europe

• European investors secure €64 billion in fresh capital for investment in living sector including BTR, student property, seniors housing sectors, over next 5 years (Source)
• Germany hits record high with 379,900 international students in the 2023/24 winter semester, marking a 3% increase as compared to previous year (Source)
• Ardian and Rockfield invest in newly constructed PBSA in Florence, offering 404 beds near University of Florence's Social Sciences campus (Source)
• King Street and Alea invest up to €375 million in student accommodation with three developments, totaling 3,500 units, in Greater Lisbon and Greater Porto, Portugal (Source)
• UXCO receives approval for €95M, 31-storey ECLA student residence in Lille, located above Victorian warehouse in France (Source)
• Student housing project in Montecatini to repurpose abandoned hotels, adding 11,000 beds and opportunities for entrepreneurs in Tuscany, Italy (Source)
• Urban Planning Department to grant building permit for 572-room student accommodation in La Cartuja, Sevilla; to be developed by Fauragarbi Investments (Source)
• Student City Project in Budapest, Hungary, aims to build student city with 12,000 new dorms to address the housing crisis of students (Source)
• HIH Invest and Vonovia launch €516 million fund for 1,700 units including two-and three-bedroom apartments, student housing and serviced apartments (Source)
• Santiago to add central university residence with 90 places and 75 rooms on Compañía de María site in Spain (Source)
• UNLP to build new university residence in Berisso’s "Campo 6 de Agosto," featuring 24 homes for 88 residents in initial phase (Source)

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