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US Firm Hines Invests in Exeter Market

Posted by Richard Ward in ,

Image courtesy of Flickr, Creative Commons

US real estate company Hines has put forward plans to develop student accommodation near Cowley Bridge Road, Exeter.

If given the go ahead, Hines aims to complete works in time for the 2019-20 academic year.

The proposals call for the construction of four blocks of flats able to house 224 students. The site sits just off a quiet residential street and was previously used as allotment land. However, controversially, to the north of the site is Dennyshill Care Home as well as a number of private residential houses.

According to Hines, the University of Exeter needs more student housing, with student numbers growing at four times above the national average.

Although a whopping 3,400 beds are proposed for Exeter, the majority of these are based in the city centre rather than at the University's main Streatham campus.

Documents submitted as part of the application said: "It is considered that the proposed development is entirely appropriate both in terms of its adherence to land use policy for the area and in relation to its design, its relationship with existing residences and with its likely impact on its surroundings."

CEO of Hines Europe, Lars Huber, has expressed the company's commitment to student housing, with the firm planning to expand its strategy from the UK and Ireland to other markets in Europe.