Amber Beat: Student Accommodation Market News - May 2023, Week 04

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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 20- May 25, 2023

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United Kingdom

• UK Government announces stringent curbs on international students, restricting dependents and tightening immigration rules as record 700,000 legal migration expected this year (The Guardian) (GOV.UK)
• Housing landlords call for exemption in Renters Reform Bill, express fears of international student accommodation market to ‘decimate’ if fixed term tenancies abolished (BBC)
• UK Prime Minister Rishi Sunak warns of unmanageable pressures on housing, education and public health services as net migration soared close to one million last year (Daily Mail)
• UCAS alerts severe student housing crisis as UK expects 30% surge in university applicants by 2030, with 400,000 more students seeking accommodation (Erudera)
• Exeter Council launches consultation to HMOs in response to growing student population and to maintain community balance in the area (Davon Live)
• Unfinished student accommodation block at Penryn leaves community disparaged amid Cornwall's housing crisis; Falmouth University's 2018 approved 528-bed StudyTel remains empty (Cornwall Fallmouth)

New Construction (United Kingdom)

• KKR's £20M forward funding with leasing power fuels Watkin Jones' 819-Bed PBSA venture in Dalby Avenue, Bristol (Business Live)
• McLaren Property submits plans for 1,000 flats and bedsits in Birmingham's Queen's hospital close development, including 759 student accommodation rooms, set for decision in Autumn 2023 (The Construction Index)
• University of Chichester withdraws plans for 85-unit student accommodation; announces larger development with 525 beds at Bishop Otter Campus and Bognor Regis (Sussex Express)
• McLaren Property unveils plans for 242-Bed student accommodation project at former Ritz Roller Rink site in Canning, Liverpool (Place North West)
• Solus Homes proposes 8-Storey student halls adjacent to Loughborough's Queen's Park, offering 211 rooms and array of facilities, completion date TBA (Leicester Mercury)
• Cloverco Ltd. proposes plans for 141-bed student accommodation building on Ilkeston Road, Nottingham (Insider Media)
• Oxford University Colleges plan new 130 graduate student accommodation rooms in North Oxford, sparks concerns over noise and community impact (Yahoo News)
• Controversial plans unveiled for 68-Bed student block near historic Coventry Street, promising economic boost and redevelopment catalyst (Coventry Telegraph)

United States

• Construction of 150- bed student accommodation started at 15th Ave. E & Jefferson St Alexandria, Minnesota by ATCC, staged to open in Fall 2024 (Voice of Alexandria)
• Partnership of Harrington Street and Toll Brothers sell 826-bed student housing ‘Canvas Tempe’ to Arizona State University (Real Assets)
• UC Boulder plans a new 400-beds residence hall to start from Spring 2024, another graduate residence hall will follow with an additional 350 beds (Daily Camera)
• University of Tennessee & RISE capital enter a public-private partnership to provide 3 new multiuse residence halls consisting of- 2600 beds ($309mn); besides acquiring 192 beds on lease from Lakemoor Station Apartments (News.utk)
• The Alexandria Technical & Community College Foundation starts construction of a student housing complex to host 149 students by Fall 2024 (Echopress)
• Students in Atlanta may find housing in Pottery Barn's new 619 Ponce Building with 405 units in an "adaptive reuse campus" in the Ponce City Market (Rebusiness Online)
• California Government seeks a higher & quick rental income, offers to pay interests on $1.1bn bonds to be raised by Cal University and Cal State University. Postpones $1.8bn budget in affordable student housing (Calmatters)

Australia

• International students in Australia on the edge with homelessness and hunger: 12% experiencing food scarcity in Monash University alone (theguardian.com)
• Poor rental housing conditions endanger health of tenants in Australian housing properties: Research reveals majority fails to meet WHO standards for warmth. (unisa.edu.au)
• With large number of students graduating from their programs, the private PBSA sectors may be able to expand the 1% vacancy rate in Australian student housing; while providing fixed rate accommodations (realestatesource.com)

Europe

• Italy's rent prices skyrocket by 10.1% YoY, sparking student protests and demands for affordable housing solutions (Reuters)
• Basque Country campsite emerges as the largest student residence, providing 150 accommodation units amid the housing crisis. Rent at a competitive price of €430 per Month (Ouest- France)
• Tuscany region faces criticism as lack of new student residences aggravates housing crisis in Florence. Only 1,814 beds available for 2,857 eligible students, highlighting the urgent need for collaboration (Nove Firenze)
• Savills and Savills IM survey reveals 42.6% of investors plan to invest more in European Residential Real Estate Investments by 2025, with EUR 82.4 billion expected to increase in assets (Konii.de)
• Ghent faces looming housing crisis: study reveals 6,000 homes needed by 2040 as multiple-person households surge (themayor.eu)
• Resa, student residences achieves remarkable growth: 5% surge in reservations and 23% surge in international students, expands portfolio in Madrid, Barcelona, and Valencia (eleconomista.es)

Canada

• Simon Fraser University (SFU) Burnaby campus has completed phase two of adding 383 beds worth $73 million on a grant from the Government of British Columbia (Journal of Commerce)