The site – located in Stoneybatter, Dublin – marks the company’s second PBSA scheme in Ireland, following the acquisition and development of the 207-bed PBSA scheme known as Carman’s Hall in Dublin, which is set to be completed for the start of the 2019/20 academic year.
Crosslane will work with local suppliers and contractors, as well as the local planning authorities to ensure it creates long-term employment and help in developing the local and wider community.
The two PBSA projects being developed by Crosslane in Dublin will help to meet the need for student accommodation from local and international students and is set to open up private housing, which is usually occupied by students, for young professionals and families.
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Crosslane is targeting 3,000 beds in Ireland over the next three years as part of its expansion across wider European student accommodation markets.
“Crosslane has been assessing the student accommodation market in Ireland for several years and is pleased to make [its] second investment in Ireland and play a part in helping to support Ireland’s reputation as a stable and growing economy and a leading university location,” said Lisa Timberlake, senior development manager at Crosslane Student Developments.
“We look forward to expanding Crosslane’s business in Ireland in a responsible way.
“The student and wider residential markets in Dublin continue to suffer from persisting demand/supply imbalances and we look forward to helping alleviate those pressures, as well as creating jobs and infrastructure for the long term.”