Elkstone, a private market investment firm, has announced the completion of a large-scale student accommodation development in Galway, the first of two such projects it is delivering in the city.
The company said its 345-bed scheme, called Queen Street Place, will be operated by UK-anchored student apartment platform Mezzino.
Eight storeys tall, the purpose-built student accommodation (PBSA) development boasts amenities including a gym and fitness studio, a cinema room, and student lounges and student areas.
Queen Street Place is located in Galway City centre, a short walk from Eyre Square, Ceannt Station and the University of Galway, Elkstone said in a statement.
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“Queen Street Place is a direct response to one of Ireland’s most pressing challenges, a chronic shortage of student accommodation that has put enormous strain on the wider rental market,” said Elkstone chief executive Joe Bergin.
“Delivering 345 purpose-built student homes in the heart of Galway is a proud moment for Elkstone. This is central to our long-term strategy: building a real estate platform of scale and making a lasting contribution to Ireland’s housing supply.”
Elkstone is also developing a 240-bed PBSA scheme in Galway city, adjacent to the Westside shopping centre.
The firm said the project was expected to be completed by September 2027, adding to its portfolio of more than 3,200 properties across the island of Ireland.
Elkstone says it has brought more than 1,500 units through planning on the island over the past two years.
Bergin was named chief executive of Elkstone earlier this year, after co-founder Alan Merriman stepped down from the role after 15 years.
Under Merriman’s leadership, the firm was best known for its venture investments in start-ups such as Flipdish, LetsGetChecked, Manna and Soapbox Labs.
A winner of the All-Ireland Senior Football Championship with Galway in 2001, Bergin joined Elkstone in 2019 after working with Ulster Bank across its commercial real estate, corporate markets and SME teams.
Elkstone was cofounded in 2011 by Merriman, alongside Ruairí O’Neill and Ciarán McIntyre. Its first venture fund closed at €100 million, including investment from the Ireland Strategic Investment Fund.
The Irish Times reported last September that Elkstone’s second venture fund was seeking to raise at least €150 million and up to €200 million in a second venture fund.
Sherry Fitzgerald said earlier this year that there was a deficit of at least 38,900 student bed spaces in Dublin, Cork, Limerick and Galway at the end of 2025.
