StudentSpace, a student housing platform launched in March of this year by Signal Capital Partners, Griffin Capital Partners, and Echo Investment, has announced that it is starting construction on its first investments.
According to StudentSpace, the company has “secured two prime plots in Krakow for the development of two dormitories, [which] will provide convenient access to universities and downtown areas, accommodating over 1,200 students.”
StudentSpace also reports plans to launch projects in Warsaw, with construction expected to begin next year. The company aims to build 5,000 beds over the next three-to-five years. The company also launched a website and brand identity.
The first location, on Wita Stwosza street in Krakow, will feature one dormitory, accommodating around 600 students. According to StudentSpace, the dormitory will be part of a larger development, which will include both office and residential spaces by Echo Investment and Archicom. “This prime location offers future residents easy walking access to, among others, the Krakow University of Economics and the Tadeusz Kosciuszko Krakow University of Technology,” StudentSpace reports, “with convenient connections to Jagiellonian University. Additionally, the Main Railway Station, Galeria Krakowska, and the city center are all nearby.”
The second plot, at 29 Listopada Avenue, will see the construction of a building providing housing for 630 students located close to Hugo Kollątaj Agricultural University.
Echo Investment will be the developer of both Krakow projects. The company has already obtained building permits, and the development process has started, with the buildings expected to be completed ahead of the 2025/2026 academic year.
Colman McCarthy, Partner, Real Estate Investments at Signal Capital Partners, says: “We are thrilled to announce the acquisition of two prime plots for new PBSA projects in Krakow, only a few months after launching our platform. Strategically located, these new accommodations will offer students convenient access to their universities, greatly enhancing both their academic and living experiences. These investments underscore our commitment to advancing the PBSA market in Poland by developing projects of enhanced quality, strategically located in prime city areas to meet and exceed student expectations. StudentSpace is planning further expansion and additional investments – we have already secured two additional locations in Warsaw, but we are also exploring opportunities in other key academic cities.”
“Poland is home to 359 universities and other higher education institutions, with a student body exceeding 1.2 million, including over 105,000 international students,” adds Griffin Capital Partners Co-Owner and Managing Partner Nebil Senman. “A significant issue for students in Polish cities is the limited availability of private-operated housing and the poor quality of university-operated housing. The strength of the PBSA sector is driven not only by the growing number of international students but also by elevated expectations from the domestic sector. The solid fundamentals and the potential for substantial returns, propelled by strong rental growth, are crucial for our further projects within StudentSpace.”
“Building on our success in the PRS sector, we are now entering the expanding PBSA market in Poland. We plan to develop modern dormitories featuring a variety of amenities, including spacious rooms, communal kitchens, study areas, recreational spaces, and gyms,” says Echo Investment COO Rafal Mazurczak. “Our projects will also incorporate eco-friendly solutions such as solar panels and energy management systems, meeting the needs of both residents and investors. Our goal is to create environments that foster learning and social integration, catering to the growing demands of fast-developing academic cities.”
Image source: en.echo.com.pl
