Amber Beat: Student Accommodation Market News - September 2023, Week 01

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 September 01- 07, 2023

United Kingdom

• Action Fraud’s report reveals 23% rise in student accommodation scams, anticipating further increase in frauds as the demand for rental properties and shared houses surges (Property118)
• Worcester PBSA ‘Court Mews’ on sale for £3.1 million, claiming 6.91% initial yield, 100% pre-leased for next year (IM)
• University College Cork opens its €35 million, 255-bed PBSA at Victoria Cross on September 1st, the project to receive BREEAM excellent rating for sustainability (EL)
• Urbanest appoints Midgard for construction of £250m tri-towers consisting 1,672 beds and 80 residential apartments for students of University College London (CEN)
• University of St. Andrews and Campus Living Villages to develop 700-bed student residence at Albany Park to ease off rental market pressure (STV)
• Cassidy Group acquires Beesten site in Nottingham to develop “The Square”, a 400-unit PBSA project, set to be completed by the summer of 2025 (IM)
• Glasgow city centre witnesses planning of numerous student accommodation developments on Waterloo Street and Bath Street (SHN)

United States of America

• The University of Maine has added a new on-campus student housing building called "Cleveland Hall”, offering 102 beds for its students (WABI)
• University of Pennsylvania’s newest housing development for graduate students “The Accolade on Chestnut” replaces “Sansom Place East” after a $94 million renovation by Greystar. The facility to house 588 graduates, achieves 100% capacity for the fall (DP)
• Amid the student housing crisis, the University of Idaho acquired the FairBridge Inn motel and converted it into a student residence hall; the facility currently houses 160 UI students (UIA)
• Landmark Construction begins development of “The Mark at Tallahassee”, a student housing community with 859 beds near Florida State University, expected to be concluded by August 2025 (RB)
• Dezhu secured a $39 million loan from Keystone Financial to develop a luxurious student housing project “DZ Tech Community” to accommodate close to 300 students near Georgia Tech University (CO)
• Stanford University ends its 86-year-old housing lease with AOHC, an alumni corporation that supported and housed Sigma Chi Fraternity (Palo)

Australia

• Student Accommodation Council urges swift action as demand soars, over 76,500 students in need of housing amidst national shortage in Australia (AND)
• Institute of Public Affairs (IPA) links soaring rental prices to record international student numbers, rents surge by $1000 annually, 80% due to student demand (9news)

Europe

• Paris Court suspends plan to requisite 3,000 student accommodations for Paris 2024 Olympics staff, citing prioritization of student welfare (SP)
• Toulouse Crous in France expands student housing capacity by 643 rooms to meet growing demand ahead of the upcoming academic year (LPS)
• Housing crisis deepens in Poland as Cushman & Wakefield analysis reveals only 10% of students have access to adequate accommodation despite rapid growth in enrollment of foreign students (EBC)
• Middelburg plans to provide housing for 500 additional students by 2029, bolstering its position as the leading educational centre in Zeeland, Netherlands (OPZ)
• Barcelona emerges as the focal point for student residence investments in Spain, aiming to add over 3,200 new beds to meet rising demand (ECM)

Canada

• Quebec's housing crisis puts international students' paychecks in jeopardy, sparks concerns about Canada's immigration policies (Theindianexpress)
• Hamilton and Niagara post-secondary institutions rush to address the housing crisis. McMaster, Mohawk, and Niagara College commit to expanding on-campus housing amidst high demand (CBC)

‍

‍