Amber Beat: Student Accommodation Market News - November 2024, Week 03

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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 15-21

United Kingdom

• Office for Students warns 72% of UK Universities to still face financial crisis until 2025, despite tuition fee increase (Source)
• Scottish Universities face financial strain as international student numbers decline and per-student funding drops by 22% (Source)
• Bristol’s 706-bed student development to begin construction based on Council’s approval in fourth attempt (Source)
• MDPL Group submits plans for Fusion Group’s 17-storey PBSA, seeks funding partners for £450M PBSA portfolio across 4 UK cities, targeting 2,488 beds by 2027 PBSA in South London with over 300 student rooms (Source)
• Three major accommodation schemes worth £100M+ set for approval at the Manchester planning meeting including 876 student beds, 237 apartments, and 359 PRS homes in the Pipeline (Source)
• Oxford Brookes unveils 342 eco-friendly en-suite rooms in first phase of 1,350-bed student village redevelopment (Source)
• Revised plans approved for 218 student flats in former Hanley Police Station in Stoke-on-Trent, adding 57 units to original scheme (Source)
• Vita expands Manchester student tower with plans to add 869 beds with a new 33-storey scheme at First Street (Source)
• Belfast approves £42M student accommodation development with 560 beds at Great Victoria Street; 3,000 more beds needed by 2030 (Source)
• £60M student accommodation development with 531 beds submitted for approval in Glasgow’s Broomielaw area (Source)
• Regal and 4C Group submit plans for 187-bed PBSA and 27 affordable homes in Camden Town (Source)

United States of America

• U.S. hosts 1.1 million international students in 2023-24, India surpasses China as top place of origin with 331,602 students, contributing $50 billion to economy (Source)
• California remains top destination for international students, with USC, UCLA, and UC Berkeley leading enrollment despite concerns over Trump administration policies (Source)
• Cal State report reveals nearly 4,000 students on housing waitlists across 9 campuses, with systemwide bed capacity at 67,800 as of 2023 (Source)
• UNH students face high rent prices for off-campus housing in Durham, with apartments like The Lodges and Cottages charging up to $1,200 per month per student (Source)
• Campus Advantage and Tramview Capital acquire ‘Alight Columbia’ for $25.6M, a 700-bed student housing community near the University of South Carolina in Cayce, S.C. (Source)
• Landmark Properties acquires 616-bed ‘The Ridge Clemson’ near Clemson University, with 97% occupancy for Fall 2024, part of its expanding portfolio of over 72,000 beds nationwide (Source)
• Greystar to build $124M, 624-bed student housing complex at Cabrillo College, Santa Cruz, with completion expected by 2027 (Source)
• UC Santa Cruz breaks ground on 3,000-bed student housing West project, with 140 units in first phase for students with families, near Coolidge and Hagar drives (Source)
• Myrtle Beach breaks ground on 624-bed international student housing project, with capacity for 1,200 residents upon completion, first phase opening April 2025 (Source)
• Cosumnes River College’s $44M, 147-bed student housing project in Sacramento set to open in fall 2028 after funding shifts; project prioritizes low-income students (Source)
• Up Campus Properties proposes 2,391-bed Nova Tempe student housing with 950 units on Rural Road, Tempe; construction expected to start in Q3 2025 (Source)
• Dordt University to begin construction on new student cottages in Sioux Center, Iowa, with six units housing 36 students, set to open by Fall 2025 (Source)
• Kennesaw State University plans $45 million student housing project with 462 beds, set for Kennesaw campus as part of long-term expansion strategy (Source)
• Texas State University plans 942-bed ‘Canyon Hall’, set to open in Fall 2025, as part of on-campus housing expansion in San Marcos (Source)

Australia

• Australian Coalition plans to oppose 270,000 international student cap planned by the Government, Albanese Government determined to slash international student numbers despite rejection of enrolment cap bill, citing housing pressures (Source)
• Urbis and Student Accommodation Council reveal nearly 53% of 132,700 student accommodation beds in Australia are privately owned or managed in PBSA sector, marking a 90% growth in a decade (Source)
• New research reveals the proposed international student cap aimed to reduce inner-city rents to be affected by just $5 a week, denoting a meek 0.8% dip, with no impact on other areas or availability of properties (Source)

Canada

• Canada increases work hours for international students to 24 per week, with new rules on school transfers taking effect from November 15, 2024 (Source)
• Canada sees 30% drop in international student enrolment due to visa cuts, with the UK and US also reporting declines (Source)
• Canada’s new immigration policies end SDS program, limit work permit extensions, and reduce permanent residency by 20% to address labour market and housing challenges (Source)
• India-Canada tensions deter 427,000 Indian students from Canada; rising GIC fees to $20,635 and new work permit rules drive shifts to Europe, UK, and Australia (Source)
• Nearly 14,000 asylum claims filed by international students in Canada in 2024, amid policy changes and consultant misconduct concerns (Source)
• Canada's parliamentary budget officer says immigration plan overestimates impact on housing gap, with 534,000 units affected by 2025-2027 immigration cuts (Source)
• University of Winnipeg implements hiring freeze, facing $4-5 million revenue loss due to federal cap on international students, affecting teaching assistants for winter semester (Source)

Europe

• UXCO completes acquisition of two student residences for €35 million in France, namely 128-bed project in Gennevilliers and 123-bed project in Bezons (Source)
• Alsei Résidentiel and Uxco Group begin construction of 123-studio co-living residence for students in Bezonsa in Val-d'Oise, France, aiming for “Very Good” BREEAM Certification (Source)
• Nido Living’s invests €28 million in new 177-bed project ‘Nido Plaza Castilla’, set up for students residing in Madrid, Spain, expected to open doors in January 2025 (Source)
• Baskonia-Alavés' 238-room residence featuring 293 beds in Salburua, Spain to open in the AY 2025-2026, intended to house university students from Euneiz (Source)
• Lasalle and Urbania develop two residences in Cerdanyola del Vallès, Spain, including 255-apartment project for students, to be managed by Yugo, with opening in September 2025 (Source)
• A €13-million new student dormitory in European University in Flensburg, Germany opens doors to house 159 students from February 2025, with 300 students still on the waiting list (Source)
• Italian company Camplus, to aid construction of new student residence on Vall d'Uixó avenue in Castellón de la Plana, Spain; set to open in 2025, with around 200 places (Source)
• Former Belgacom towers in Kortrijk, Belgium to be converted into student housing “Techtower”, consisting 105 rooms; renovation to begin in January 2025 (Source)
• Praemia REIM launches investment platform for student housing in Italy, accounting investment valuation of approximately €100 million (Source)

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