Aston University will demolish a number of 1970s tower blocks and build 2,350 new student rooms after securing funding from the Bank of Scotland.
The university, the bank and Derwent Living Group are trustees of Aston Student Villages, a charity that will manage 3,000 new student rooms for the next 35 years. The Bank of Scotland is part of Lloyds Banking Group and has provided the funding for Aston Student Villages and Derwent Living will manage the accommodation.
Paul Wisher, commercial director at Derwent Living Group, said that the new environmentally sustainable development will involve the demolition of several tower blocks, the retention of 650 beds at Lakeside and the construction of 2,350 new student units – increasing student accommodation at the university on the Aston University campus by more than 40 per cent.
“Construction of the first phase of 1,300 rooms has just been completed ready for occupation this term with the next phase of 1,000 rooms being due for completion by August 2013,” he said.
The project will also provide a new artificial five-a-side football pitch and a below ground level car park with 250 spaces at the university.
The Derwent Living Group is the parent company of Derwent Living, the Midlands-based housing provider, and Derwent FM, its newly formed facilities management company. Derwent Living is already a major provider of student accommodation across the Midlands, South Yorkshire and the South-east as well as owning and managing 11,000 residential homes.
Mr Wisher, one of the trustees of the project, added: “Our involvement in the Student Residences Project is fantastic news.
“By combining our experience as a major housing provider and the expertise of Martin Corbett, we feel that The Derwent Living Group will be able to provide an excellent service to the university.”