Journal Student Living, a collaborative entity formed by the global asset management firm Brookfield Asset Management and Citiplan, has successfully obtained planning approval for its North Terrace purpose-built student accommodation (PBSA) project in Adelaide, Australia. In February 2026, Journal Student Living purchased the North Terrace site for $26.29 million from Renewal SA, with the transaction facilitated by JLL. This development is poised to offer a campus-style PBSA scheme that includes hundreds of beds alongside an array of amenities.
The new development will introduce a public plaza accessible from Frome Street, complemented by ground-floor retail and hospitality spaces, along with open-air seating designed to enhance the precinct’s vibrancy. With a projected value of approximately $400 million, the scheme will comprise a mixture of individual and shared accommodation, all supported by extensive communal areas and facilities.
We are thrilled to showcase all that makes Journal unique to the students of Adelaide. Journal Uni Terrace will be a remarkable campus-style facility, featuring spacious communal areas and a variety of well-lit shared and studio apartments, all centred around a lively public plaza. Upon opening, it will become a hub of inspiration and community, hosting engaging events and providing supportive staff,” stated a representative from Journal Student Living.
The Project’s Design and Features
The project, designed by COX Architecture, will consist of a 21-storey tower soaring to 71.8 metres, providing a total of 1,028 beds across 612 individual rooms and 144 shared living spaces. The design incorporates numerous amenities including open-plan study areas, a cinema, an entertainment complex, shared kitchen and dining spaces, a library, and a gymnasium, all tailored to enhance student life.
Industry Impact and Future Developments
Simon Harris, Development Manager at Journal Student Living, expressed appreciation for the significant effort from the Journal development group and the wider consultant team in reaching this milestone. He remarked, “We look forward to delivering what will serve as a new benchmark for PBSA in Adelaide, alongside COX Architecture and Multiplex.”
Strategically located amidst the University of Adelaide, UniSA, Adelaide University, the Art Gallery of South Australia, the South Australian Museum, Adelaide Botanic Garden, and the East End precinct, this site is designed to support a transformative project that aligns with the State Government’s Better Housing Future initiative.
Journal Campus House is already in operation in Melbourne, with additional projects such as Journal Market Way in Melbourne and Journal Garden Place in Brisbane set to launch within the next 18 months, further establishing Journal Student Living’s presence in the Australian PBSA market.