Plans From Summix Capital Ready for Approval
14th Jun 2019
Crosslane Student Developments has appointed RGB Group to deliver a 384-bed student development scheme in Cardiff.
The Shrewsbury-based contractor will deliver the Howard Gardens development, taking Crosslane's joint venture with Harrison Street Real Estate Capital, to 1,685 beds.
Investec is providing £19m in finance for the project, with Crosslane acting as development manager for the JV to ensure it is delivered on time. The scheme is due to open in time for the 2020-21 academic year.
Commenting on the scheme, David Smith, Managing Director at Crosslane Student Developments, said: "Howard Gardens is a cluster flat focused design, which gives students in Cardiff much needed and better value accommodation. It will help encourage students to be part of a community and share social experiences, while the majority of recent student accommodation developments in the city have been self-contained studio apartments."
"Its beds will make a significant impact on easing the supply/demand imbalance for student accommodation in Cardiff, helping to free up private housing to rent for families and young professionals."