The Market Monitor Digest (week 43/2023)
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
Ireland: Multi-million fund to address ‘serious’ student accommodation shortage
By Grainne Ni Aodha Pa, October 26, 2023
A multi-million euro fund has been announced in an effort to address the country’s “serious” shortage of student accommodation. Minister for Further and Higher Education Simon Harris said any projects financed through the €434 million scheme will offer rents below the market rate. He also said the State had been “too hands off” when it comes to student accommodation. The initiative, provided through the European Investment Bank (EIB) and the Housing Finance Agency (HFA), offers universities lower-cost loans over longer periods of time.
Poland, Warsaw: The new Student Depot dormitory welcomes Warsaw students
Author unknown, October 26, 2023
A new, private dormitory of the Student Depot network was opened in Warsaw. The facility, offering a total of 540 rooms, was built at the corner of Modzelewskiego Street and Wilanowska Avenue. Kajima Poland was responsible for the turnkey construction.
UK, Manchester: B&K seals £130 million Manchester student towers
By Aaron Morby, October 26, 2023
Purpose-built student accommodation provider iQ Student Accommodation has signed Bowmer & Kirkland to deliver its triple tower scheme in Manchester. The Echo Street project will deliver over 1,200 rooms next to Vimto Park in the Whitworth Street Conservation zone, next to the gateway of Piccadilly and the North Campus of the University of Manchester.
Spain, Madrid: Lar studies building a student residence and 'branded residences' in its Madrid project
By Carlos Lospitao, October 24, 2023
At the beginning of September, Grupo Lar acquired one of the most coveted assets in Madrid: number 50 María de Molina Street. The offer of €204.7 million was enough to win the public auction of this property, which five other companies also participated in, as idealista/news announced exclusively. Now, idealista/news has learned that Grupo Lar plans to install a student residence and build some 'branded residences' in the residential tower of this development located in the most noble area of the capital.
Germany: Germany's students struggle to find rooms
Author unknown, October 23, 2023
A worsening housing crisis in Germany has left tens of thousands of students without reasonably priced long-term accommodation, or even space in dorms, according to student associations. One group, in the central German city of Gottingen, has rented a hotel, so students can stay there at subsidized rates in the short-term.
Germany, Hamburg: The first residents move into the Wuhletal Fenster high-rise
Author unknown, October 23, 2023
21-story high-rise building in the Marzahn district of Berlin was built on the 20,879 square meter site at Märkische Allee 312. About a year after the topping-out ceremony, the project developer Bonava was able to hand over the first 31 of the 203 condominiums.
Germany: Talyo and Domicil successfully launch the micro-living brand elevon
Author unknown, October 23, 2023
Property Services and Domicil Real Estate AG launched the “elevon” umbrella brand. Under this name, both companies market a micro-apartment portfolio from the Danish pension fund The portfolio includes eleven properties and 1,400 apartments that were built between 1965 and 2019.
Sweden, Malmö: MKB Fastighets awards €35m resi project in Malmö to Peab
Branislav Pekic, October 23, 2023
Peab has been commissioned by Malmö's largest real estate company MKB Fastighets to build 264 rental apartments and six other premises worth €35 mln.
Australia, Sydney: Goodman Changes Gears with Macquarie Park BtR Plans
Renee McKeown, October 24, 2023
Goodman Group is switching gears with plans to develop 1236 apartments in Northern Sydney as the build-to-rent sector comes of age.
Canada, Sainte-Julie: Reconstruction of the Friendship Villa
By Alexandra Vielle, October 19, 2023
A funding request has been submitted to the Quebec Affordable Housing Program (PHAQ) and the Société d'habitation du Québec for the construction of 62 affordable housing units for independent seniors. The current Villa de l'Amitié building, located on rue Lamoureux, in the Old Village sector, will be rebuilt and expanded if the Quebec government selects the project.
France, Dunkerque: Nearly 90 housing units will be built on the Cuir Center site
Author unknown, October 22, 2023
During a discussion on future developments in the lower town, Davy Lemaire, Deputy Mayor of Dunkirk, announced a new housing project to be built on the site of the Cuir Centre.
Germany, Soest: A large residential building will be created from block 3 in the former Adam barracks
By Achim Kienbaum, October 22, 2023
The first tenants are expected to move into their new apartments in less than a year. Apartments will be built in the former barracks, on the three floors below - on the ground floor and upstairs in the social department, and on the third floor there will be attractive senior apartments.
US, Long Islad: Live Oak Bank Provides $29 Million Refi for LI Assisted Living Facility
By Brian Pascus, October 20, 2023
Sculptor Real Estate, the CRE arm of New York-based Sculptor Capital Management, secured a $29 million refinancing for Whisper Woods, its 101-unit senior living property on Long Island, Whisper Woods is a 101-unit assisted living and memory care community and 136 beds.
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