Amber Beat: Student Accommodation Market News - October 2024, Week 04

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 18-October 24

United Kingdom

• Landlords voice concerns for Renters’ Rights Bill, urge Government to amend policy; warns 490,000-bed shortfall by 2026 (Source)
• UK increases student visa maintenance funds by 11% from 2025, impacting international students with new monthly requirements of £1,483 in London (Source)
• UK PBSA investment reaches £3.3B in 2024, outpacing 2023 by £1.3B; Q3 sees £840M across 15 deals, with 30% driven by Mapletree’s Cuscaden Peak portfolio acquisition (Source)
• Greystar's Chapter London Bridge PBSA tops out with 39 storeys, 905 beds, and communal spaces, set to open in September 2025 (Source)
• Unite Students completes £34M Bromley Place PBSA in Nottingham, featuring 271 beds for returning students and postgraduates (Source)
• Birmingham City Council proposes reducing the affordable housing target on Brownfield Developments from 35% to 25% amid financial viability concerns (Source)
• Empiric student property raises £56.1M through share issue to fund future PBSA developments, issuing 59.7M new shares (Source)
• Cain & Olympian Homes acquire St James House in Bristol for redevelopment, adding 574 PBSA beds to £800M UK portfolio (Source)
• Edinburgh University to invest £6.9M in refurbishing the 250-student accommodation block, Churchill House, by September 2025 (Source)
• Nottingham's historic Radford School site to be transformed into a 176-bed student block, with £231K public space contribution (Source)
• Burnley’s £15M Newtown Mill Project nears completion, set to add teaching space and boost university presence (Source)

United States of America

• India set to surpass China in F1 visa issuances, but 2024 sees decline amid rising refusal rates and calls for a new international education plan (Source)
• The Preiss Company (TPCO) acquires and rebrands ‘Elevate 231’ as ‘The Collective at Columbia’, featuring 318 units and 972 beds in Columbia, MO (Source)
• Campus Life & Style achieves 99% occupancy at LifeTower, a 714-bed student housing property in Houston, TX, affiliated with Texas A&M Medical Center (Source)
• Adro partners with Shorelight to enhance access to no-fee banking services for international students in the US, following a $1.5M pre-seed investment in New York City (Source)
• UW-Madison proposes $300 million residence hall to address housing shortage for growing freshman class (Source)
• JLL Capital Markets secures $36M financing for ‘Varsity Berkeley’, a 308-bed student housing complex at 2024 Durant Ave., Berkeley, California (Source)
• As per F1 Hire, San Jose State University ranks first for international student outcomes, with California standing out as the state with the most highly ranked institutions (Source)
• Providence City Council to vote on comprehensive plan that incentivizes new housing development while citizens raise concerns over rising student housing rents (Source)
• Kennedy Wilson secures $184M in construction loans for three student housing projects at University of Wisconsin-Madison, University of North Texas, and University of California, Berkeley (Source)
• Tallahassee students face rising rents at ‘Urban Enclave’, with prices reaching up to $1,600 per month for apartments (Source)

Australia

• Scape secures $1.5B Dutch investment for major build-to-rent project in Sydney’s Inner West (Source)
• Wee Hur holdings shares surge amid speculation of PBSA business sale in Australia (Source)
• GIC and Wee Hur in $1.1B plans to sell Australian student housing portfolio to Greystar (Source)

Canada

• Chicago Developer, Core Spaces on track to double student housing portfolio with over 43,000 beds in progress (Source)
• Harrison Street Partners with Gracorp for the third Calgary student housing project, Block 22 to feature 645 beds (Source)
• A Vancouver student union president warns housing and food insecurity are driving students into homelessness, forcing some to sleep on campus (Source)
• Brampton officials urge federal and Ontario governments to address international student trafficking (Source)
• Forum Asset Management unveils ALMA @ Cabbagetown to tackle Toronto's student housing crisis (Source)

Europe

• Netherlands to cap international students as numbers reach 128,000, targeting €300 million in savings by 2025 (Source)
• Ardian and Rockfield launch €500 million pan-European student accommodation strategy targeting key markets in Italy, Spain, and France (Source)
• Sligo County Council to sell the 16-acre site for ATU student accommodation, targeting 1,000+ beds to address the housing shortage in Ireland (Source)
• Frankfurt launches a new student dormitory in France with 150 places, including 27 shared apartments and an average rent of €272.50 (Source)
• Blau Student Housing opens in Barcelona with 250 studios and amenities, aiming for LEED Gold Certification (Source)
• Eichstätt breaks ground on new student dormitory with 153 apartments, set to open Winter Semester 2026/27 at €25.5M cost in Germany (Source)