Market Monitor Digest (week 39/2024)
It's our pleasure to be your go-to for the week’s key industry news. Thanks to the information collected by the BONARD Market Monitor team, you can now keep your finger on the industry pulse.
Student Housing & Co-Living
UK, London: Croydon site with 600-bed student scheme potential up for sale
By Green Street News, September 24, 2024
Site was previously home to HSBC.
US, Ann Arbor: IPA Arranges $17 Million for Michigan Student Housing
By Connectcre.com, September 25, 2024
IPA Capital Markets, a division of Marcus & Millichap (NYSE: MMI), announced the $16,975,000 financing for the acquisition of a student housing property consisting of 62 units located adjacent to the University of Michigan’s main campus at 1700 Geddes Ave. in Ann Arbor, Michigan.
Spain, Granada: A new student residence with 300 beds opens at the PTS in Granada
By Ideal, September 25, 2024
Yugo, the first global brand of student housing operators present in 70 cities worldwide, celebrates the start of the 2024/2025 academic year with the inauguration of its first space in Granada: Yugo Granada Salud. The residence, part of an ongoing strategic alliance with Merkel Capital, features 293 studios ranging in size from cozy to extra-large.
UK, Derry: Plans for new 300-flat student complex in Derry's Strand Road now submitted
By Derry Journal, September 25, 2024
Derry City and Strabane District Council has received plans for a six-storey student accommodation building close to Ulster University. The outline planning application was recently submitted by developer, LCC, and seeks permission for construction of the building, which will comprise clusters and studios and can house up to 307 students, as well as “landscaped courtyard and roof terraces, and all other associated site and access works”.
US, College Station: Parallel Completes 745-Bed Student Housing Project Near Texas A&M University
By Rebusiness Online, September 23, 2024
Austin-based student housing owner-operator Parallel has completed Otto, a 745-bed development located near the Texas A&M University campus in College Station. The property offers studio through six-bedroom floor plans.
BTR
UK: Cole Waterhouse launches consultation for 850 Trafford homes
By Place North West, September 23, 2024
The developer wants to build a mixed-use development including 438 build-to-rent (BTR) apartments and 419 student beds. The public will be offered a chance to give their opinion on Cole Waterhouse’s plans for the former Hilti headquarters site off Trafford Wharf Road.
UK: Atelier provides £7.14 MLN for Durham build-to-rent (BTR) scheme
By Insider Media, September 21, 2024
Specialist development finance lender Atelier is providing a £7.14 MLN loan to support a build-to-rent (BTR) housing development in Durham. The 17-month loan will part-fund the construction costs for the development of 89 houses in Esh Winning. The deal marks Atelier's first project with build-to-rent developer Placefirst.
UK: Double blow for Cairn Homes as An Bord Pleanála rejects plans for 889 built-to-rent (BTR) flats
By Irish Indelendent, September 20, 2024
An Bord Pleanála has refused planning permission to contentious plans by Cairn Homes for 355built-to-rent (BTR) apartments for Blackrock, Co Dublin. The planning appeals board has refused planning permission for the BTR component of the Strategic Housing Development (SHD) scheme in Cross Avenue after concluding the units would result in an “over-proliferation” of built-to-rent (BTR) homes for the area.
US: Bascom Group Acquires $56.6 MLN 249-Unit Build to Rent (BTR) Multifamily Community in Premier Southwest Submarket of Bakersfield
By MultifamilyBiz, September 20, 2024
The Bascom Group has acquired Old River Place, a 249-unit single family residential-style, build to rent multifamily residential property located in the highly desirable Southwest submarket of Bakersfield, California. The purchase price was $56,633,500 or $227,444 per unit.
Senior Living
Germany: New home for 150 seniors in Gummersbach
By Ksta, September 22, 2024
The house is not yet a place for retirement, the construction machinery made quite a noise on Friday. Time is pressing, already on the 1st The first residents are to move into the nursing wards in November. One month later, the service apartments will also be available. With around 150 places, the senior residence on Gummersbacher Industriestraße will then be one of the largest retirement homes in Oberberg.
US: $575,000 grant will help 116-unit affordable senior apartment project
By Lane Report, September 23, 2024
The James Graham Brown Foundation is providing a $575,000 grant to the nonprofit developer of a 116-unit affordable senior apartment project in West Louisville to complete a first-floor build-out of the former warehouse structure slated to become Gateway on Broadway. Gateway on Broadway Senior Apartments will provide 116 affordable apartments for low-income seniors on the top four floors of what was originally the Axton-Fischer Warehouse.
US: Louisville nonprofit secures $575,000 grant to revitalize historic warehouse for seniors housing
By WDRB, September 23, 2024
The James Graham Brown Foundation gave a $575,000 grant to Housing Partnership, Inc. LOUISVILLE, Ky. (WDRB) -- A Louisville foundation provided more than half a million dollars to a local nonprofit that promotes affordable housing.
US: New senior living community in Berks opens with 131 apartments and state-of-the-art amenities
By Berks Weekly, September 23, 2024
The state-of-the-art, 130,000-square-foot building sits on land that is considered a historical haven in the region. The nearby Mull Mansion was built in 1802 and still stands today. The senior living community’s 131 units will include 60 Independent Living, 51 Personal Care and 20 Memory Care apartments.
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