Student apartment redevelopment continues in UK
Aberdeen City Council has announced the resumption of the redevelopment of the former Hilton Garden Inn hotel on St. Andrew Street in Aberdeen, UK, into a 105-room student residence.
Blackfinch Property has provided a GBP9.7 million (US$12.3 million ) loan for the project and the developer is Optimal Student. The 7-story Hilton Garden Inn ceased trading in early 2020 due to concerns about cramped conditions. All rooms are planned to be larger than the standard studio rooms available in purpose-built student residences. Edinburgh-based Optimal Student will contribute GBP36,000 (US$45,772) to the local community as part of the agreement to revitalize the vacant hotel. The funds have the potential to be utilized for expanding the capacity of nearby medical practices.
Work on the project started on April 3, 2023.
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