Harrison Street and CA Ventures will develop a 249-bed purpose-built student accommodation (PBSA) project in Dublin, Ireland. The property will be developed, managed, and operated by CA’s in-house PBSA management company Novel Student.
Located on Parnell Street in Dublin’s city center and close to Trinity College Dublin and Technological University Dublin, the development is ideally located for students, in close proximity to restaurants, shopping, cultural attractions, nightlife, and multiple public transportation options. Upon completion, the PBSA property will offer full bed-bath parity for both studio and ensuite apartments. The building will deliver premier amenities including a gym, cinema, game room, communal spaces, bike storage, study rooms, and a dining room.
Paul Bashir, Chief Executive Officer of Harrison Street’s European business, said: “We are pleased to deliver modern, high-quality student housing with easy access to Dublin’s universities, where 80% of the current student population is currently unable to access PBSA options. Dublin is home to the largest concentration of students in Ireland with approximately 95,000 full-time students; yet, as enrollment at the largest universities continues to grow, supply of high-quality student accommodation has not kept pace. We continue to see attractive opportunities to expand our presence in the Irish student housing market and look forward to working with CA to identify and develop PBSA assets that offer students premium living experiences proximate to their universities, ultimately enhancing their higher education experience.”
Carlo Matta, President and Head of CA’s European operations, added: “We are thrilled to expand both CA and Novel Student’s presence to Dublin – a city that holds some of the country’s leading universities yet continues to lack dedicated campus accommodation. With the Dublin population anticipated to steadily increase, we look forward to the opportunity to alleviate some of the pressure universities are facing while integrating ourselves with the rich culture of the city through a thoughtfully designed and operated asset.”
This is the JV’s second project in Ireland following its investment in a 623-bed PBSA development in Cork that is opening in Fall 2023. The JV also currently owns six assets in the UK and is expected to deliver 3,000 total PBSA beds across the UK and Ireland.