CA Ventures (“CA”), the vertically integrated real estate investment management company, today announced its 102-bed purpose-built student accommodation (PBSA) in Edinburgh, Huxley Studios, has been awarded the highest Fitwel Rating of three stars by the Center for Active Design.
Created by the US Centers for Disease Control and Prevention and the US General Services Administration, Fitwel is a green building certification system that aims to improve, enhance and safeguard the health and wellbeing of residents. The certification has been awarded to only 8% of projects globally under the Fitwel Certification Scheme and recognizes the asset’s sustainable and wellness-focused construction, design and operations – all of which cultivate the physical, mental and social wellbeing of occupants as well as overall sustainability best practices. All leasing, marketing and operations for Huxley Studios are managed by CA’s in-house PBSA operating platform, Novel Student (“Novel”).
“We are thrilled to have attained another three-star certification from Fitwel, marking the second of four 2022 Novel deliveries to achieve the accreditation,” said Matt Walker, executive vice president of CA’s European operations. “These certifications represent the value Novel provides to residents and capital partners, and we look forward to continuing the accreditation process for the remainder of our 2022 deliveries.”
The three-storey PBSA scheme, developed in joint venture partnership with Harrison Street Real Estate, features modern interiors across 102 rooms and nine amenity areas. Each student bedroom is furnished with a Smart TV, desk area, fully fitted kitchen, dishwasher, breakfast bar area, and washer and dryer. Building amenities include a breakfast bar, karaōke room, library, gym, outdoor and private dining in addition to study and lounge areas. Huxley Studios plans to welcome students in the autumn of 2022.
In addition to the Edinburgh asset, CA plans to deliver another 896 beds across Leicester and Belfast to serve students during the 2022/2023 academic year, all of which will be managed by Novel. CA has also announced joint ventures to expand its PBSA portfolio and the Novel platform to Ireland, Spain and Italy.