In April 2022 Hines finalised an investment with JV partner Blue Noble for the construction of new student accommodation in the heart of the Politecnico di Milano university campus in Milan's Bovisa area. The project will be built on land that is currently vacant covering c. 45,000 square meters (450,000 square feet).
The plan is for two buildings that will take three years to build and are expected to be complete in 2025. One building will have approximately 250 beds rented at subsidized rates. The second building, with free market rents, will be able to accommodate more than 300 students in spacious units. The buildings will be built in line with the highest international standards of sustainability and energy efficiency with the aim of achieving the LEED Gold certification.
The new hub that will house the university accommodation will feature high-quality design throughout, from the choice of materials to the rich variety of facilities offered such as study rooms, a gym, yoga room, laundry, and film room, plus well-equipped common areas, all of which cater to the needs and priorities of Milan’s growing international student population.