Market Monitor Digest (week 44/2024)
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
Singapore, Singapore: PGIM, Elevate buy S$132 million Singapore building for co-living conversion
By IPE Real Assets, October 28, 2024
Singapore Land sells Stamford Court commercial property.
Spain, Madrid: Metrovacesa and Vita Group join forces to develop a 519-room flex living building in Madrid
By El Inmobiliario, October 28, 2024
The developer Metrovacesa and Vita Group, have signed the creation of a joint venture to develop a flex living building in the Oria Innovation Campus complex in Madrid. The property will have 519 rooms. This agreement represents Vita's first joint venture in the flex living concept, but it is the second project that Vita Group and Metrovacesa have developed jointly, both within the scope of the Oria Innovation Campus, following the agreement signed at the end of 2023 for the promotion of a Vita Student Residence
UK, London: Fleet Street set for new student accommodation and cultural attractions
By City of London, October 29, 2024
The City of London Corporation has approved plans to refurbish the building at 65 Fleet Street into a new mixed-use scheme, that will deliver a wide range of additional benefits for local residents, workers and visitors. Currently an underused office building, the site will be retrofitted and transformed into a professionally managed, student living accommodation, with over 850 roomsnear the London School of Economics and Kings College London.
UK, Manchester: Cole Waterhouse makes £200 million moves in Trafford
By North West Place, October 28, 2024
Plans have been lodged for 438 build-to-rent apartments, 419 student beds, and a 24,100 sq ft academic facility at the former Hilti headquarters in Stretford. Cole Waterhouse said its proposals for the two-acre brownfield plot off Trafford Wharf Road represent a gross development value of £200 million. The application submission follows a consultation last month.
US, Florida: Balfour Beatty to build student housing in Florida
By PBC Today, October 28, 2024
Balfour Beatty has been selected to deliver on student housing projects in Florida with a combined value of £129 million. The individual projects are Rollins College East End Neighbourhood, Florida Atlantic University’s (FAU) 2026 Campus Student Housing project, and Nova Southeastern University’s dining renovation.
BTR
Spain: Culmia will invest 25.8 MLN in 169 rental homes in Valencia and Benidorm on public land
By elEconomista, October 28, 2024
Culmia continues to grow with public-private collaboration projects throughout Spain. After taking over part of the Vive Plan of the Community of Madrid, the developer has now been awarded two plots of land through the formula of the surface right for a total of 169 homes in Benidorm and Valencia of the affordable rental housing plan of the Entitat Valenciana d'Habitatge i Sòl (EVHA), belonging to the Generalitat Valenciana.
The Netherlands: Elan Wonen is building 155 new social rental homes in Boerhaavewijk Haarlem
By Nul 20, October 28, 2024
Housing association Elan Wonen is replacing three outdated complexes with only social rental properties in the Boerhaave district in Haarlem with sustainable new construction. The flats dominated the street scene in the northwestern part of the Schalkwijk district from the 1960s onwards, but renovation is not worthwhile. The construction plan provides for the construction of two five-storey buildings with a total of 115 new homes on Louis Pasteurstraat. And the realization of a four-storey residential building with 64 apartments on Roordastraat. Elan does not only build in the social segment. There will also be 24 homes with a mid-range rent.
Spain: Ibiza will have 65 new protected rental housing in Can Cantó
By Periodico de Ibiza, October 27, 2024
The City Council of Ibiza will definitively approve the next plenary, which will be held on Thursday, October 31, the free transfer to the IBAVI of one of the municipal plots already announced for the construction of officially protected housing on a rental basis. As they remember from the City Council of Ibiza, the plot is located on Sant Vicent de sa Cala street, next to the public school of Can Cantó. Specifically, the plot has an area of 4,020 m2 and it is estimated that it will allow the construction of 65 rental homes.
New Zealand: Construction of 300 build-to-rent (BTR) houses in Remuera set to begin
By RNZ, October 28, 2024
The construction of more than 300 new houses will begin next month as part of a build-to-rent (BTR) project in Auckland. Simplicity Living, owned by KiwiSaver provider Simplicity, now has resource consent for its Remuera development purchased from Ellerslie Racecourse. Managing director Shane Brealey said it was a great location close to schools, a supermarket and a hospital and rents will be affordable.
Senior Living
Germany: Lively builds third senior housing in Duisburg
By Carevor9, October 29, 2024
The company Lively, specialized in residential properties for seniors, is building a new residential quarter in Duisburg. The property has 44 apartments with two to three rooms and living areas of 34 to 108 square meters. The tenants can book numerous services through Lively. The project developer is the Blankblau Group. The property is the third Lively residential quarter for seniors. The first facility in Gronau, North Rhine-Westphalia, is partially opened, in Trier in another Lively quarter under construction.
France: Saint-Etienne: the transformation of the Grande Poste into a Senior Residence is completed
By Capgeris, October 28, 2024
Completely rehabilitated by La Poste Immobilier, the emblematic Hôtel des Postes Stéphanois hosts a new Senior Services Residence operated by Les Jardins d'Arcadie. After three years of work, the soon-to-be-century building was completely transformed to accommodate a residence of 86 contemporary housing for independent seniors.
US: Ribbon Cutting Opens Doors to 63-Unit Senior Affordable Housing Community
By Mile High, October 28, 2024
On October 24, Multidisciplinary design firm Cushing Terrell, Palace Construction, IMEG Corp., and Terracon Consultants cut the ribbon for the new Catholic Charities Housing-funded, four-story All Saints senior affordable housing development. Located at the corner of Federal and Vassar streets, the All Saints Apartments bring a much-needed income-restricted housing option for aging adults in Denver.
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