Construction starts on Student One’s two-tower student accommodation at the former Elizabeth Arcade in Brisbane

THE former Elizabeth Arcade site in the Brisbane CBD is about to be tranformed into a $145 million two-tower student residence.

CONSTRUCTION has started on a $145 million two-tower student residence at the former Elizabeth Arcade site in the Brisbane CBD.

The 27,200sq m development, with street frontage on both Elizabeth and Charlotte streets, is the third CBD student accommodation residence being constructed by Student One — bringing its managed scale to 2340 beds by April 2019.

The site, formerly Elizabeth St Arcade at 97 Elizabeth Street, was purchased in October 2015 for $28 million, with demolition works starting last year. Icon Co will build the towers.

Student One’s first residence, the $110 million 687-bed Student One Adelaide St, opened in July 2016 and directly opposite, its second residence, the $120 million 753-bed Student One Wharf St — the world’s tallest student accommodation tower — will launch in January next year.

An artist’s impression of Student One's $145 million two-tower dedicated student residence at the former Elizabeth Arcade site in the Brisbane CBD.

Student One chief executive Tim Weston said the Arkhefield Architects-designed 23-storey Elizabeth St tower and 25-storey Charlotte St tower will house just over 900 domestic and international student residents in 244 apartments when at full occupancy.

He said that Student One Elizabeth St’s design was delivering on the accommodation provider’s commitment to supporting purpose-built, inclusive environments for its students to live in, creating public and private spaces that encouraged community living, a natural environment that would stimulate interaction between students and the city’s population.

“Education has become this City’s major export, with more than 75,000 international students visiting Brisbane to undertake English language, secondary, vocational and tertiary studies at a number of world class institutions in and around Brisbane City,” Mr Weston said.

An artist’s impression of the interior of Student One’s tower at 38 Wharf St, Brisbane.

Student One Elizabeth St will offer a range of studios and four, five and six-bedroom apartment types, with all rooms fully-furnished and air-conditioned.

A number of the lower floors will contain rooms with individual outdoor alfresco areas.

Free high-speed wired and wireless internet will be available throughout the towers, as well as advanced CCTV systems that will provide a high level of resident safety.

Student One’s CBD projects feature a range of studios and four, five and six-bedroom apartment types.

Common areas at Student One on Elizabeth St will contain extensive communal and private study areas, breakout spaces, outdoor social spaces, a rooftop outdoor cinema and BBQ area, a games room, gym and media room.

The food and dining laneway will contain up to 1300sq m of space for up to 12 outlets, along with communal spaces for diners to enjoy the natural light and laneway atmosphere running from Elizabeth St through to Charlotte St.