Brisbane’s student accommodation boom is continuing with El Camino Priority III Pty Ltd submitted a DA for a new 41 storey, purpose built student accommodation tower located at 38 Wharf Street.
Designed by Arkhefield, the tower has a total of 753 rooms, ancillary areas such as outdoor terraces with barbeque and pool facilities, recreational media rooms, games rooms, gym, multi-function rooms, study spaces, meeting rooms and laundry facilities.
The building also incorporates a state of the art learning space on Level 21 for the use of the students to supplement their study areas and allow privacy for study away from university.
A rooftop terrace on level 41 is planned as well as three ground level retail tenancies.
According to the Brisbane Economic Development Plan 2012-2031 prepared for Brisbane City Council, the international student market is ‘…worth approximately $2.2 billion to the Brisbane economy each year’.
The Plan estimates that this sector will grow significantly creating approximately 40,000 additional jobs for the Brisbane economy by 2031. This is more than double the number of local jobs currently generated by the education market.
The Plan also recognises that, due to the significant economic value of this market, there is a strong need to work closely with ‘…providers to establish a welcoming environment for international students and in giving them a better experience while studying in Brisbane’.
Student accommodation plays a vital role in the achievement of Council’s economic development strategies in relation to education and in the establishment of a reputation for Brisbane as a New World City.
According to town planning firm Urbis:
There is a clear community and an economic need for this development given the strong demand for student accommodation both in the immediate and long term – specifically, the need to support job growth in the education sector and the Brisbane economy.
The DA number for this development is A004166581.