A NEW “state of the art” 447-bed student accommodation development has opened on Dorset Street Upper amid claims that the cost of renting the units are too high.
At €235 a week for 41 weeks through the academic year, students will have to hand over just under €1,000 a month for the en suite rooms at Aparto Dorset Point.
Study areas, a games room, cinema room, gym, outdoor tree-lined courtyards and a roof garden are also included in the Hines development.
By comparison, student accommodation at Trinity averages around €600 a month during the semesters.
Alex Knapp, Hines’ managing director responsible for student accommodation, said: “We are delighted to open our latest student accommodation development at Aparto Dorset Point.
“Dublin is home to a vibrant student population and demand is strong for high-quality, secure, conveniently located accommodation.
“We believe that a student home is more than just a room, it’s also the experience, and Dorset Point’s unrivalled amenities are testament to this.”
Mr Knapp did admit however that the prices are high.
Speaking to the Irish Times he said: “Prices are high, site prices are high and expectations on all fronts are very high.”
The property giant entered the Irish student housing market last year and to date has acquired five major sites in Dublin which will deliver over 1,700 beds for Dublin’s student population.
Aparto is the operating platform for all of Hines’ student accommodation developments.
In addition to Aparto Dorset Point, Hines acquired the 205 bed Aparto Montrose development adjacent to UCD; a 470-bed development at The Binary Hub; a 450-bed development in Summerhill due to be complete in 2018; and a development site on Cork Street, which is subject to planning approval.
The first students will be moving into Aparto Dorset Point ahead of the new academic year in September.