Scape plans five new student towers in Sydney
The country’s largest student accommodation provider Scape is backing a long-term recovery in the international market and has proposed a series of futuristic buildings in Sydney to accommodate the wave of returnees once the coronavirus pandemic has passed.
Scape estimates its projects will create 1800 construction jobs and generate a broader economic impact of more than $2bn as it also pushes governments to set up schemes to allow for safe passage of students to restart the industry.
Five new buildings are set to be delivered along the bustling Anzac Parade to the tune of $300m, ranging in height from six to 19 storeys and offering more than 1650 rooms for incoming students. The accommodation provider is working closely with Randwick City Council to rejuvenate the area with 8500sqm of new retail space as part of the development and public domain works such as laneways, plazas and multipurpose spaces.
Scape managing director and group CEO Stephen Gaitanos said the company was readying for the new wave of students once restrictions were lifted.
“In a post COVID world, the weight of demand from across Asia, Europe and South America will rise again from students seeking a world-class education in Australia. The opportunity to continue to develop and invest in innovation and Academic Centres of Excellence is a once in a generation opportunity,” Gaitanos said.
The proposed Anzac Parade site is located along the NSW government’s $1.6bn CBD and South East Light Rail. It is also hoped to support the future growth of the Randwick Health and Education precinct with the delivery of much needed rental residential accommodation after the state invested $700m into the expansion of facilities.
The Prince of Wales Hospital, Sydney Children’s Hospital – Randwick, Randwick Racecourse and the University of New South Wales each reside within the council area.
The five-green star building designs have included initiatives in demand by the current generation of students, including carshare, e-bikes, rooftop gardens and indoor and outdoor exercise areas. Breakout spaces for work and relaxation are also included in the design.
Scape is currently building two projects in Sydney with a combined value of $110m. A total of 730 beds will be delivered across the Darlington and Redfern projects, the latter of which is being built in conjunction with the Aboriginal Housing Company.
This article originally appeared on www.theaustralian.com.au/property.
