Developer Hines Property has submitted plans to build a new A $85 million tower in Adelaide`s central business district, which will become the world`s tallest student-only dormitory.
If approved, the Woods Bagot-designed 38-story tower at 29 Twin Street would be as high as 124.2 meters.
The world`s tallest student dormitory is 122 meters high and is also located in Australia, a high-rise building known as One Wharf Street Tower in Brisbane.
29 Twin Street, Adelaide.
Ames Hines, general manager, said the building was a response to the huge demand for PBSA, a student-only residential project, in response to the growing number of international and cross-state students studying in Australia.
"there are more than 10000 international and interstate students attending universities in Adelaide and they have brought significant economic benefits to South Australia," Hines said.
"for Adelaide students, this development will undoubtedly be an attractive residence option."
Australia is the world`s third-largest destination for international students, after the United States and the UK, and has attracted a lot of investor interest in the PBSA market.
Earlier this year, student dormitory developer Scape received A $1 billion in funding for its student accommodation fund, enabling Scape to carry out a series of development projects with a total value of more than A $3 billion in the booming PBSA sector.
29 Twin Street, Adelaide.
Hines Property`s program, which has 510 beds, covers a range of student apartments ranging from single rooms to five or six.
Woods Bagot`s Alex Hall said the design team designed a simple and slender high-rise building based on the shape of the site.
The development will also include coffee shops, public mezzanine lounges, movie and activity spaces, study and dining areas, garden breaks and rooftop lawns, gyms, health and a yoga space with views of the city and Adelaide Mountains.
Construction is expected to begin in 2019 and will take 18 months to complete.
