The overall plan is to deliver 1,500 purpose-built student beds across Limerick, Cork, Dublin, and Galway by 2028.
Investment firm Elkstone and management firm Harrison Street are developing a new 345-bed purpose-built student accommodation at Queen Street in Galway.
Due for completion in 2026, the project is part of a wider partnership to deliver 1,500 student beds across Limerick, Cork, Dublin and Galway by 2028.
“Queen Street is just one example of the thousands of sustainable and high quality, purpose-built student accommodation units we are developing right now across the island”
Queen Street PBSA marks the first significant investment in the west of Ireland through the Elkstone and Harrison Street partnership and will help to meet the growing demand for high-quality and specialised student accommodation in the region.
Hub for higher education
Designed to meet the highest ESG standards, and with a focus on residents’ health and well-being, the 8-storey building will be home to 345 students. Additional amenities include common study areas, a gym, bicycle storage, a cinema room, rooftop terrace, and 24/7 reception.
Located a five-minute walk from Galway’s Ceannt train station, and a 15-minute walk from the National University of Ireland Galway (NUIG), the Queen Street development also aims to significantly increase the economic contribution of the area.
“At Elkstone, we want to help support Ireland’s infrastructure. For us, it is about connecting real capital to meaningful projects at scale,” said Ciaran McIntyre, Co-Founder and Head of Real Estate at Elkstone.
“By opening access for local Irish investors to co-invest alongside global industry leaders like Harrison Street, we can provide modern and liveable spaces that both represent and further bolster communities. Queen Street is just one example of the thousands of sustainable and high quality, purpose-built student accommodation units we are developing right now across the island.”
The west of Ireland is now home to several prominent universities and institutes, making it a hub for higher education.
The formation of a thriving university corridor has attracted a diverse student population and created a consistent need for modern, sustainable student accommodation. Almost 13,000 undergraduates alone require housing in a city with just under 6,000 student beds, meaning 7,000 are left without access to dedicated student accommodation.
“This is a good example of ISIF’s co-investment strategy at work, in which it can act as a catalyst to attract international co-investment capital to support the construction of new accommodation in one of Ireland’s leading cities,” said Nick Ashmore, Director, ISIF.
“ISIF’s partnership with Harrison Street, announced in 2023, aims to increase the supply of available student accommodation in regional cities to meet the housing needs of students and support the growth of Ireland’s universities.”
-
Bank of Ireland is welcoming new customers every day – funding investments, working capital and expansions across multiple sectors. To learn more, click here
-
Listen to the ThinkBusiness Podcast for business insights and inspiration. All episodes are here. You can also listen to the Podcast on:
-
Spotify
-
SoundCloud
-
Apple
