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

About Amber Beat

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 October 04 - October 10

United Kingdom

• UK tuition fees for domestic students set to rise 35% to £12,500 amid financial crisis affecting 40% of universities (Source)
• Get Living unveils 450-bed PBSA at Elephant and Castle, supporting New London College of Communication and 507 residential units (Source)

• Unite Students unveils 41-storey Meridian Square PBSA in Stratford with 952 beds, including 333 affordable units, set to be ready by 2028 (Source)
• Bellmount Developments granted approval for 206-bed PBSA in Cork, set to replace a vacant dealership with seven-storey student complex (Source)
• Edinburgh's Optimal Student secures approval for £2.7M PBSA in Aberdeen, adding 127 units to revitalize City Centre (Source)
• University of Worcester proposes 250-home development in Dines Green, Worcester, expanding on expired student housing plans (Source)
• Northampton Council approves 110-flat student housing development on College Street car park, supporting local economy (Source)
• Historic Snowdon School in Stirling approved for 21-bed student accommodation amid plans for garage conversion into additional studio unit (Source)
• Sama Investment Group proposes two towering student accommodation blocks in Birmingham, offering nearly 2,000 bedrooms across 41 and 48 storeys (Source)
• Downing submits plans for 430-bed student accommodation in Wandsworth, featuring two 10-storey towers on Brownfield Site (Source)
• Developer Watkin Jones plans for 374-bed student accommodation near Bristol Temple Meads, featuring 6-11 storey blocks and private courtyards (Source)
• Plans submitted for two student accommodation towers in Birmingham featuring nearly 2,000 bedrooms and rising to 48 storeys (Source)
• Cavendish & Gloucester unveils plans for 20-storey student housing tower with over 150 beds in Southampton (Source)
• Former Edinburgh Artists' Studios plans to convert into 135-bed student accommodation to address housing crisis unveiled (Source)

United States of America

• New F-1 visa rules limit international students to 5 months outside US during their academic programmes; Impacting study abroad and internships (Source)

• UCLA initiates $108 million redevelopment of ‘Gayley Towers’ at 565 Gayley Avenue, featuring 545 beds, set for September 2026 completion (Source)
• Greystar partners with Merrimack College to develop 540 student beds in North Andover, Massachusetts, set for fall 2026 completion (Source)
• University of Memphis in partnership with The Annex Group breaks ground on a student housing project at the Park Avenue campus, featuring over 500 beds (Source)
• Vesper Holdings acquires ‘Midtown 905’ near the University of North Texas, featuring 432 beds with a planned investment of $1.8 million for upgrades (Source)
• Kennedy Wilson secures $184M financing for three student housing projects at the University of North Texas, University of California, and University of Wisconsin (Source)
• Durham Tech secures $0.62million federal funding for 124-unit affordable housing project at 902 South Briggs Avenue (Source)
• JLL Capital Markets secures refinancing for ‘The Timbers’ in San Marcos, featuring 253 beds across 155 units (Source)
• Parkland Residential secures $57 million for ‘Grover Landing’ in Warner Robins, featuring 317 build-to-rent units (Source)
• West Hartford developer secures approval to convert Middletown Masonic Temple into two large housing units and retail space (Source)
• Harrison Street Capital Partners closes a $2.5 billion fund focused on student housing, senior housing, and data centres; with an initial investment in a fully pre-leased complex at the University of Wisconsin (Source)
• Jackson State University proposes $5.25 million purchase of Jackson Marriott for 500 student beds at 200 E. Amite Street (Source)
• Greystar sells ‘Hale Mahana’ in Honolulu at 2615 S. King St., featuring 589 beds across 191 units, located within walking distance of the University of Hawaii at Manoa campus (Source)
• Tricon Residential and HHS Residential completes ‘Tricon Willow Creek’ in Tomball, Texas, featuring 148 build-to-rent units (Source)

Australia

• Australian Government set to approve bill limiting international student numbers as visa holders near 700,000 (Source)

• University of Newcastle plans for 9-storey student accommodation at 20 Civic Lane, featuring 445 beds with a projected cost of $87M; construction set to begin following Stage 1B approval (Source)
• Lendlease and Nippon Steel Kowa launch $500M build-to-rent project in Melbourne, featuring 499 apartments at Collins Wharf, with completion set for 2026 (Source)
• Ontario Teachers’ Pension Plan and Hines acquire two BTR properties in Brisbane, totalling 354 units at 28 Robertson Street and 265 units at 13-17 Cordelia Street, set for Q1 2025 (Source)

Europe

• International Campus acquires 700-apartment Wendenquartier in Hamburg, Germany, enhancing student housing options in a growing market (Source)
• Urban Campus plans expansion with five new serviced residences by February 2025, targeting 3,400 units in France and Spain by 2027 (Source)
• 1,800 new student beds planned in Umbria, Italy, as €1.2 billion funding call launches to create 60,000 accommodations in Italy by 2026 (Source)
• Resa opens new 320-bed student residence in Madrid's Chamartín, expanding portfolio to 11,500 beds across 42 assets (Source)
• An Bord Pleanála approves 206-bed student accommodation development near University College Cork after a two-year review (Source)
• 125 accessible student housing units set to open in Nîmes by Summer 2025 amid 30% increase in student population in France(Source)

Canada

• University of Victoria develops business case for on-campus housing to accommodate at least 500 students in Victoria, B.C., following a recent $235.9M project that added nearly 800 beds (Source)
• Penticton City Council approves zoning amendment for 89-unit student housing complex at Okanagan College on Railway Street (Source)
• 60-storey tower proposed at 149 College Street in Toronto, featuring 480 student residence units, designed by Sweeny & Co Architects in collaboration with Northwest Development Corporation and Alignvest Student Housing (Source)
• Kelowna planners support a 40-storey rental building at 1355 St. Paul St., featuring 384 units, proposed by Mission Group, with city council review set for October 7 (Source)