$450m student housing tower to ease rental crisis
Read the original article by Giuseppe Tauriello on Adelaide Now.
Simon Toovey from Marlborough Capital, Jason Di Iulio from 1835 Property, Trinity Church senior pastor Paul Harrington and Joseph Scali from 1835 Property. Picture: MILCO Photography
The developer behind one of Australia’s largest student housing towers says slashing overseas student numbers would gut the country’s second-biggest export and he has a bold solution.
The developer behind one of Australia’s largest student accommodation towers has slammed moves to close the door on international students, proposing a bold plan that would link the number of student arrivals with the supply of dedicated student housing.
Adelaide businessman Jason Di Iulio, whose development company 1835 Property is delivering 979 new student beds in a $450m project under construction at the Trinity Church site on North Tce, says his plan would relieve pressure on the wider housing market.
“If we look past the politics of immigration, our view is that simply reducing student visa numbers on its own is not the answer. It would have an enormous negative impact on what is Australia’s second largest export – education,” he said.
“The logical policy setting is to link visa applications to PBSA (purpose-built student accommodation), which the universities need to play a part to ensure genuine students are properly housed outside of the domestic rental market.
“The effect would be maintaining the international student numbers whilst at the same time taking pressure off the broader rental market. It is something that all parties need to be part of – universities, governments both state and federal, and the private developer market.”
Construction on the 31-storey tower – a joint venture between 1835 Property and Marlborough Capital – commenced earlier this year, and is set to become Adelaide’s largest, and one of Australia’s largest, student accommodation buildings when it opens in mid-2028.
Mr Di Iulio said more than 100 students had already registered their interest in the project, with strong interest from international students despite growing pressure on the federal government to curb the number of overseas arrivals.
Under the federal government’s cap on international student, up to 295,000 overseas students will be allowed to start their studies in Australia next year.
On Thursday, Home Affairs Minister Tony Burke provided more details about the government’s plan to cut net overseas migration to 225,000 people by 2028, including a crackdown on so-called visa hopping, and restricting international students from bringing family members to Australia.
One Nation wants to reduce the active international student population from 590,000 to 350,000 over three years, while the Coalition is yet to detail how it will cut net overseas migration to its nominated 170,000.
This week the Student Accommodation Council (SAC) backed comments by NSW Premier Chris Minns that universities should invest more in student housing to take the heat out of the wider rental market.
“If governments want to reduce pressure on the rental market while maintaining a world-class international education sector, the answer is more student housing, not fewer students,” SAC executive director Dr Adele Lausberg said.
Mr Di Iulio said his project, to be operated by UniLodge, would go some way to easing the shortage of student accommodation in Adelaide.
Picture: MILCO Photography
Located adjacent to Adelaide University’s City West campus and close to Flinders University’s city campus, the development will “set a new standard for student living in Adelaide”, according to Mr Di Iulio, with every bedroom having access to its own ensuite bathroom.
Other features will include a cinema, 24/7 gym, yoga studio, music and media room, study zones, social lounges, cafe, communal kitchens, outdoor deck with BBQ facilities, pickleball court and moonlight cinema.
A new public piazza will connect the tower to North Tce, and the project will also include a heritage restoration of Trinity Church – Adelaide’s first church, opening in 1838 – the parish hall and Delbridge House, and construction of a new church administration building.