DLA Piper has acted as legal adviser to Campus Living Villages (CLV), the project sponsor in respect of the project to design, build, finance, operate and maintain a 648 bed student accommodation facility located at the University of Melbourne. DLA Piper advised CLV on all aspects of the transaction including the project deed with the University of Melbourne, financing arrangements with Commonwealth Bank of Australia, construction contracts with Watpac and ancillary documents.

The new 14-storey student accommodation facility will be built in Carlton under a 38-year Build, Own, Operate and Transfer (BOOT) contract between the University of Melbourne and CLV. The facility is to be developed on a site located at 108-128 Leicester Street, Melbourne and is expected to be completed in late 2015 and opened in time for Semester 1, 2016.

The project is a key component of the University’s overall student accommodation program and will provide new, high-quality, affordable student accommodation options to domestic and international students as part of the University's long-term strategy to provide at least 2,000 new student beds by 2020. The development will meet the 5 star Green Star Rating for a multi-unit residential complex and is planned to maximise solar access and amenity.

CLV works with educational institutions to develop high-quality self-catered accommodation, creating exciting student-centred living spaces, and is currently developing over 9,000 beds in the ACT, QLD, VIC and WA.

Key members of the DLA Piper project team were Finance & Projects partner Alex Guy and senior associate Kate Papailiou and Real Estate partner Jane Baddeley and senior associate David Andrewartha.

Alex Guy said: "CLV provides a market-leading solution for educational institutions seeking to increase accommodation capacity and enhance the student experience. We are proud to have been part of the team working to deliver this world class facility at the University of Melbourne."