DUBLIN’S largest ever purpose built student accommodation project on the corner of Gardiner Street has been officially completed.
Kavanagh Court provides 491 student beds in the north inner city and there’s hundreds more to come from developments currently under way by Global Student Accommodation (GSA).
GSA and Chicago-based real estate private equity firm, Harrison Street Real Estate Capital, have invested in excess of €60 million into the site to create the seven-storey property composed of 88 three to seven bedroom cluster flats.
The units all contain fully equipped kitchens, individual study areas within each bedroom and en-suite bathrooms.
Its student residents will be able to enjoy views across the city centre’s famous sites including the landmark ‘Spire’ on O’Connell Street.
They’ll also have access to shared spaces including a games room, gym, communal study rooms, a cinema, a landscaped courtyard and a roof-top terrace.
The high-spec new-build, which is certified for energy efficiency, is a 15-minute walk from Trinity College, Dublin Institute of Technology and the National College of Ireland.
Earlier this month, Minister for Housing, Eoghan Murphy, attended the official launch of Kavanagh Court.
“Ireland is experiencing a housing crisis and the delivery of student accommodation is vital if we’re to solve it,” he said.
“It’s great that GSA has made this investment and done it so quickly, but it’s also excellent to see that GSA is committed to delivering additional developments around Dublin over the next five years.
“It’s important that we have quality student accommodation. It’s important that it’s in city centre locations and it’s important that it’s close to our universities. Developments like Kavanagh Court are going to contribute to the local communities and become part of those communities.”
Aaron Bailey, GSA’s Head of Construction Europe, said the company has put “a huge amount of effort” into its student communities in Dublin.
“It’s been incredible to see such phenomenal student excitement in our offering,” he added.
“We’ve been fully booked for the 2017/18 academic year across all of our Dublin residences since August.
“Students at our developments in Dublin are projected to bring around €6 million into the local economy, benefiting local businesses.
“On top of that GSA is helping to accommodate the increased demand for student homes without impacting existing housing stock.
“The 491 bed Kavanagh Court frees up the equivalent of 200 houses in the market, and our New Mill and Broadstone Hall residences have opened up the equivalent of another 200-250.
“Delivering student beds and releasing pressure on housing stock is vital for Dublin, and is why we’ve committed to contributing 5,000 student beds here by 2021.
“This ambitious goal will be significantly aided by the 10 year deal we’ve signed with Trinity College and will help provide local jobs, while regenerating areas of the city that have previously been neglected.”
The completion of Uninest Kavanagh Court comes after GSA opened Uninest Broadstone Hall in 2016 and Uninest New Mill earlier this month.
In total, the three residences have contributed almost 1,000 much-needed student rooms to Dublin. GSA is also due to deliver a 570 bed residence on Brunswick Street in 2018, along with the 296 bed Uninest Tannery.
“We have provided in excess of 1,400 units in Dublin over the past three years and have a further 2,000 units under construction at present,” said Paul Bruton, Managing Director of Bennett Construction, whose team constructed Kavanagh Court.