Thrive Student Living commences its largest development to date

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19-11-2024
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Property Wheel
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Thrive Student Living has commenced its largest student accommodation development, a two-year, R800 million project immediately adjacent to the main gate of the Howard College Campus of the University of KwaZulu-Natal.

Undertaken by Growthpoint Properties’ specialist development division, the project will add 2 400 beds to the region which, according to proprietary research, has the biggest shortage in SA.

The 12-storey building’s design incorporates red face-brick, an architectural signature in the Berea area, with ground retail to serve residents, other students and the surrounding community. Other amenities include study areas, games rooms, gyms, IT rooms, backup power and water.

Growthpoint’s development team are completing two new properties for Thrive Student Living for the 2025 academic year: Thrive @ Crescent Studios, a R300 million 900-bed building in Braamfontein and Thrive @ Arteria Parktown, a R200 million 500-bed building in Parktown – both ideally positioned for Wits University.

The REIT has commenced construction on the building which is set to welcome its first students in January 2027.