Lancaster VC Appointed as N8 Chair of Board of Directors
16th Nov 2018
A significant student development in Lancaster would be completed within two years, if plans are given the go-ahead.
Global real estate firm Hines has applied to build a 600-bed student village split across eight new buildings up to eleven storeys high.
Situated on wasteland between Bulk Road and Caton Road it's hoped the scheme would act as a catalyst for the regeneration of the surrounding area.
Included within the plans is a study library, gym, cinema and roof level lounge.
Alex Knapp, Hines managing director, said: "We expect to start construction work in the summer of 2017, and complete by September 2019, in time for the start of the academic year.
"We think the scheme will act as a catalyst for the regeneration of the surrounding area where there are a number of vacant properties, while the presence of an anticipated 600 students will also add vibrancy to the area while increasing trade for local businesses."
Mr Knapp continued, suggesting that Lancaster is very appealing in terms of a location for investment and that it has a vibrant student population. Moreover, there is a growing trend for students to prefer living in city centre locations such as that proposed, rather than in peripheral locations, even if they are closer to the university.
The company has only recently entered the student housing market and is looking for prime development sites in strategic locations across the UK.
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