Daily Newsletter

02 November 2023

Daily Newsletter

02 November 2023

UCR set to break ground on North District Phase 2

The project is set to sate the growing demand for affordable on-site student housing on the campus.

November 01 2023

University of California, Riverside (UCR), US, in collaboration with Riverside Community College District (RCCD), is set to break ground on a new student accommodation complex next week.

Phase 2 of the North District project will see the construction of 1,568 additional beds spread across two apartment-style buildings.

UCR has added 2,300 beds over the past three years, including through the North District Phase 1 and Dundee Residence Hall developments. However, there still remains a shortage.

Situated at the north-east corner of Canyon Crest Drive and W Linden Street, the new student housing complex will be constructed on 4.5 acres west of North District Phase 1.

The seven-storey residence will offer fitness and laundry facilities, conference rooms, and group study spaces.

Furthermore, a car park, community park, and recreation grounds will be built north of North District Phase 1.

The University of California Board of Regents granted a $347.8m budget for the development earlier in September this year. The complex is set to open in mid-2025.

State funding of approximately $126m will cover the cost of 652 beds, which will be offered to students at below-market, low-income rent rates.

With the state’s financial assistance, UCR has been able to advance the construction schedule for the North District Phase 2 development, which was initially scheduled to begin next year.

According to UCR chancellor Kim A Wilcox, the project is designed to meet the high and growing demand for on-campus student housing.

The low-income apartments will be spread throughout the complex, and RCCD students will have access to the same amenities and services as the rest of the residents, with housing contracts to be identical to those of UCR students.

South-East Asia Construction Market Dynamics

Per GlobalData analysis, the South-East Asia construction industry in 2023 is dominated by Indonesia, though the country will see a slowdown compared to 2022 due to elevated building material prices, weak commercial property demand, high interest rates and a softening of external demand. The construction industry in the Philippines is estimated to register a AAGR of 7.2% between 2024 and 2027, supported by the government’s focus on the development of the country’s rail and road transport and energy infrastructure.

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