Amber Beat: Student Accommodation Market News - April 2023, Week 03

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 April 15- 20, 2023

‍United Kingdom

• iQ Student Accommodation buys Ten Traffic Street PBSA asset in Nottingham from Jensco, completing the deal by the end of June 2023 (PBSA news)
• Leicester City Council refuses plan to convert historic buildings into a 268-bed student housing development due to harmful impact on area and community feel (Leicester Mercury)
• Champion Real Estate secures $40.5 million refinance for University Village Fullerton, a 121-unit student housing property, following $10.5 million in renovations and expansion (Connectcre)
• STB real estate provides £6m refinancing for Birmingham's Bridge Street Studios PBSA development (BEN)
• Rental demand gains pace in UK BTR sector, investments see £1.1 billion in Q1 2023. Manchester and Birmingham get maximum traction (BEN)
• Portsmouth councillor demands action against developers at Crown Place to protect student housing obligations (portsmouth.co.uk)
• Bradford Mill redevelopment plans for student flats scaled back to 61 residential apartments due to saturated market and rising costs (Telegraph and Argus)

New Constructions

• Olympian Homes propose to replace Bristol's Premier Inn hotel at St James Barton roundabout with two contemporary buildings for co-living and student accommodation, featuring a total of 581 bedrooms (Bristol world)
• Topland Group and Colico Living unveil plans for sustainable 25-storey student accommodation with 593 beds in Cardiff's Greyfriars Road by 2025 (Business news wales)
• Liverpool city centre set to gain new student accommodation block with 218 studios and 10 cluster apartments (Liverpool Echo)

United States of America

• Yardi Matrix report shows student housing rents and pre-leasing hit record highs in March with rents up 7% YoY to $829 per bedroom, and 69.7% of beds for the fall 2023 term (Connectcre)
• Age-old Fort Collins U Plus 2 ordinance causing troubles in student housing, Columbia State University students propose to get rid of the law. (CBC news)
• UMass Amherst students protest over housing crisis, demand university enrollment limit and more on-campus housing options (WWLP)
• University students navigate informal system to sublet apartments in Charlottesville for the summer, facing challenges and negotiations in an oversaturated market (The Cavalier Daily)
• Ohio and Alabama Representatives introduce Collegiate Housing and Infrastructure Act of 2023 to improve affordability and safety of student housing (wtap)
• Developers and community aim to create student-centered living environments with independent approaches in Dinkytown, Minnesota (MNDaily)

Australia

• Rising rents and inadequate youth allowance leave Australian students with AUD 13 a day as a living cost (The Property Tribune)
• $13 million in funding announced for Western Australia’s international education sector, $5.5 million assigned for international student accommodation subsidy. (The Pie News)
• Citiplan and Brookfield Submit 930-bed PBSA Tower designed by Cox Architecture in Brisbane CBD to local council to address student accommodation shortage (Architecture and Design)

Europe

• Over half of international students from Eastern Europe in England and Wales work while studying, Romanian students lead with 73.9% employment rate, according to new census data (MSN)
• JV between Harrison St and T3N to launch “The Project”, a 450-bed sports-oriented student housing complemented by LaLiga and NBA, in Madrid city centre (Property Magzine International)
• Plans for 36-bed student accommodation in Letterkenny lodged with Donegal County Council, decision expected by May 18th. (Donegal News)

Canada

• BCIT to build 470-bed student housing in Burnaby campus receives $108.5M provincial funding for construction (Burnaby beacon)
• McMaster University's new 10 Bay Residence to offer 644-bed spaces for graduate students starting Fall 2023, but concerns raised over rental rates (The Spec)

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