News - 9th March 2016 - (The Irish Times)
GSA to invest €60m in 500-bed student accommodation on Gardiner Street
Global Student Accommodation (GSA) a Dubai group that operates thousands of student beds in Europe and the Middle East, has announced it is to proceed with a second Dublin student facility at Gardiner Street.
The group is joining forces with Carrowmore Property to provide almost 500 student flats on the former IDA site in the north inner city. The company is to invest €60 million on the development of the seven-storey buildings which will be within easy walking distance of Trinity College and the Dublin Institute of Technology. The students will be even closer to the stops on the proposed Luas cross-city service.
Last September GSA also announced it had been granted planning permission for a 400-bedroom student complex at Mill Street in Newmarket in the southwest inner city. The €41 million project is to be developed in conjunction with the property investment and management company, The Creedon Group.
Carrowmore Property will be responsible for the construction and delivery of the Gardiner Street accommodation.
Patrick Cox of Carrowmore said they had a proven track record in developing student accommodation internationally and they looked forward to bringing the Dublin project to fruition They recognised the site had immense potential and they were confident the completed project would be a welcome addition to the student housing stock in Dublin city.
The scheme is expected to be ready for the September 2017 student intake.
Last September GSA and Chicago-based real estate private equity firm Harrison Street announced an agreement to invest €250 million in student accommodation in Dublin over the next five years.
At the same time they disclosed plans for their first joint venture in Mill Street which in addition to student accommodation will also have shops, a restaurant and office space for local businesses.