Amber Beat: Student Accommodation Market News - May 2023, 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 May 5- May 11, 2023

United Kingdom

• LaSalle funds Greystar's 770-bed green student housing project in Wembley Park with £130m loan, set to complete by summer 2025 (La Salle)
• DIF, CLV, and Arlington team up to expand UK student accommodation portfolio with acquisition of Ottoway Portfolio Holdings, adding 4,500 PBSA beds across 8 properties in 7 key cities (DIF)
• Student housing crisis spurs innovation and strategies, housing demand outstrips supply (ICEF Monitor)
• Concerns raised as private developer proposes conversion of former Nottingham Council building into 48-bed student accommodation scheme, amidst growing number of PBSAs in the area (The Business Deck)
• Environmental Trust Ireland lodges High Court challenge against €30m student accommodation complex at Punches Cross, disappointing Labour Party councilor (Limerick post)

New Construction (United Kingdom)

• Birmingham-based developer- Volume raised plans for the final phase of 220-bed student accommodation to be opened in AY 2025/26 (Housing Today)
• Vita student’s £240m New Waverly student accommodation plans unveiled, include nearly 300 student beds with up to 10 affordable homes (Business Insider)
• Ambassador Group’s Nova living applied for 288 student flats project to be developed in Glasgow city centre (Glasgow World)
• IQ Student Accommodation to complete Echo Street Towers project in Manchester, adding 1,224 PBSA bedrooms after three-year delay due to Covid (Manchester Evening News)

United States

• Cal State Fullerton aims to transform into residential campus with over 2,400 Beds, $600M investment by 2039 in Orange County (Daily Titan)
• University of New Mexico study reveals shocking rates of basic need insecurity among students: 67% experience housing uncertainty (UNM Newsroom)
• An expansion of the residence halls at UC Irvine is set to fund housing subsidies to over 480-students with low-income (OC Register)
• FGCU students seeking on-campus housing in the fall 2023 semester face limited housing options, waiting lists, and high demand (Eagle News)
• University of Vermont's student housing expansion plans stall, adding to Burlington's housing crisis (Vermont Public)

Australia

• Australia's Federal Budget 2023: no cap on aged care working hours, cost of living relief for international students; visa application costs rise (Insider Guide)
• Melbourne University staff urgently appeal to landlords: "host international students to alleviate accommodation crisis"(The Age)
• Rising concerns over international student safety in Australia: incidents, housing scams, and mental health crisis spark urgent action (SBS)

Europe

• Amid a rent crisis highlighted by student protests outside Milan University, the Roman government plans to create 14,000 new beds for students (ANSA)
• The Urban Planning Department approves a redevelopment project of Campo de la Verdad 3, including a 356-bed student residence project in Miraflores (Sevilla)

Canada

• British Columbia government's plan to address labour shortages includes investment in student housing, adding 4,000 beds and one million job opportunities in the next decade (The Pie News)
• Prince George City Council denies modification for seniors housing complex on Ospika Boulevard, after previously approved student housing with 256 Beds (My Prince George Now)