The Student Hotel (TSH) has acquired a 30,000m² site on the northern edge of the centre of Turin, from the Metropolitan City of Turin, where it is to deliver a new urban campus scheduled to open in 2023. TSH will invest an estimated €65m in the development, one of the company’s largest-scale urban regeneration projects in Europe and the first to incorporate a purpose-built educational facility for the IAAD Design University. The project marks the company’s entry into a fourth Italian metropolis.
Charlie McGregor, TSH’s CEO and Founder, said: “TSH has become the leading international investor in the rapidly expanding coliving and coworking market across Italy, in a remarkably short space of time, because of the successful partnerships forged with local municipalities to deliver its award-winning mixed-use model that connects local and international communities. Our blended business model, which brings together an investor, developer and operator, allows us to take a long-term view, adopt new approaches to development as well as offer best-in-class services to all our guests and become a thriving community hub for cities.”
The Mayor of Turin, said: "We welcome TSH’s plans for the development of a new ‘The Student Hotel’ campus in Turin. It is an important step towards the regeneration of the Ponte Mosca site near the historic city centre and will materially increase the quality and quantity of the services on offer for students, tourists and people coming to Turin to work for short periods of time. TSH’s scheme also fulfils the need for more accommodation in Turin, which is being driven by the growing number of Italian and foreign students enrolling at Turin’s University, its Polytechnic and other higher education establishments, such as the IAAD Design University.”
Edoardo Volpi, TSH Head of Investments Italy, added: “This acquisition marks an important milestone for TSH’s expansion in Italy. The quality of Turin’s higher education institutions, a growing hotel market and a vibrant start-up scene make it a great fit for TSH’s concept and the natural city to develop a disruptive urban campus project. Turin has been one of our primary targets since we entered the Italian market and we have now found the perfect location and partners. The Ponte Mosca site offers huge potential, thanks to its strategic location as a ‘gateway to the heart of the city’. We are looking forward to working with our stakeholders and delivering the successful re-development of the area. Following this major step for our growth in Italy, we are now targeting other key cities such as Milan, where we have been active recently and where we aim to secure our next site soon, thanks to the advanced discussions currently underway.”