One of Adelaide’s largest student housing complexes will rise directly opposite the state’s largest university campus, following a strategic land sale by Renewal SA.

Journal Student Living (Journal), a partnership entity of global asset manager Brookfield Asset Management and Citiplan, will develop the facility on the prominent North Terrace and Frome Street corner, approximately 40 metres from the newly merged Adelaide University campus.

Journal plans to deliver a best‑in‑class, campus‑style Purpose Built Student Accommodation (PBSA) facility, offering a range of high‑quality living options and hundreds of beds, supported by world‑class amenities.

The development is expected to feature a generous public plaza off Frome Street, with ground‑floor retail and hospitality tenancies and open‑air seating to further activate the precinct.

Valued at about $400 million, the planned project will include a mix of individual and shared accommodation supported by extensive communal spaces.

Student amenities incorporated into the design include open‑plan study areas, a cinema, entertainment complex, shared kitchen and dining facilities, a library and a gym.

Shane Wingard, Renewal SA’s Acting Chief Executive, said the project represented a significant and positive addition to Adelaide’s premier boulevard, bringing together high‑quality student housing with active commercial frontages.

“A state-of-the-art student accommodation facility directly across the road from the new Adelaide University is a fantastic outcome for the site,” Mr Wingard said.

“We’ve landed a development opportunity that makes good economic sense for the state and will be greatly beneficial for students and provide space for vibrant street activation and public amenity.”

Renewal SA released the land at 274 and 275 North Terrace to market in 2024, amalgamating the allotments into one substantial corner site before clearing and preparing the land late last year.

The project will be designed by COX Architecture, the team behind the Adelaide Oval redevelopment and the National Wine Centre of Australia.

“The benefit of such a large site, made possible by a strategic private land acquisition by Renewal SA in 2023, is that you can be creative with your floor plan and massing without needing to break the skyline,” Mr Wingard said.

“The site allows for maximum sunlight throughout the building, while its corner position offers an opportunity for highly activated frontages.”

The size of the site also allows for appropriate height transitions that align with North Terrace’s natural westward incline, paired with generous street setbacks along Frome Street.

Pictured: Journal Campus House Melbourne

This will be the fourth Journal development in Australia in its current portfolio.

Journal Campus House is already operating in Melbourne, with Journal Market Way (Melbourne) and Journal Garden Place (Brisbane) scheduled to open within the next 18 months.

Brookfield owns AUD $11.3 billion in student accommodation assets across 181 properties worldwide, comprising more than 55,000 beds across the United States, United Kingdom and Europe.

Brookfield Co‑Head of Australian Real Estate Ruban Kaneshamoorthy said the project would have positive impact on the community, including contributing to housing availability more broadly.

“Australia has limited high-quality, purpose-built student accommodation in our capital cities relative to other global education hubs,” Mr Kaneshamoorthy said.

“We’re pleased to invest in the sector in Adelaide and to deliver to South Australia a world-standard offering for students that provides quality accommodation and a living experience focused on engagement and wellbeing, while also helping to take the pressure off the local rental market.”

Journal CEO Ian Davidoff said the development aligns with Adelaide’s ambition to grow as a world-class education destination.

“Journal’s entry into the Adelaide market reflects its conviction that a high-quality campus-style student accommodation will meet the evolving needs of the city’s student community as its two major Universities – the University of Adelaide and the University of South Australia – merge into Adelaide University to create a world-class research and teaching institution,” Mr Davidoff said.

Journal is working through administrative planning and approvals process. Early site work and construction is expected to begin this year.