Job Creation: the development and construction of new student accommodation creates jobs in the construction and related industries.

1) Increased spending: Students living in the City spend money on a variety of local goods and services from groceries and transport to entertainment and retail, which boasts the local economy.
2) Urban regeneration: Building new student housing can help to regenerate brownfield urban areas, making them more vibrant and attractive for both students and residents.
3) Alleviating housing pressure: By providing dedicated student housing, pressure is reduced on the traditional private rental sector and Houses of Multiple Occupation (HMO’s) which frees up housing stock for permanent residents and families.
4) Attracting and retaining talent: High quality, safe and accessible accommodation enhances the City’s attractiveness as a “learning city” for both domestic and international students. Retaining these graduates after their studies is crucial for a strong knowledge economy, and the availability of suitable living options helps achieve this.
5) Resilient income stream: For developers and investors, student accommodation offers a a stable and predictable income stream with consistent demand, even during economic downturns which university applications typically increase.
6) Support for universities: The availability of sufficient quality accommodation is a key factor in the University of Ulster’s proposals to increase the number of students at Magee ensuring its continued growth and success. The university is a major economic driver in the City.
7) Accessibility: The proposal is located within the Central Area, within easy walking distance of both the University and the City Centre and has excellent transport links to both the bus and train station.