The University of Salford and Salford Village Limited, a consortium made up of global student accommodation specialist Campus Living Villages, construction firm Graham Construction and investors Equitix and Kier Project Investment have reached financial close for a student accommodation project.

The project includes the construction and the management of 1,367 new student accommodation beds at the University's Peel Park campus.

The project cost is estimated at £81 million (US$ 131 million). The project was awarded to the consortium on 5 April 2013.

The consortium will commence works on site in November and Campus Living Villages will manage the accommodation and welcome its first residents for the academic year 2015/16.

Gary Holmes, Regional Director of Graham Construction believes the project will raise the company's profile in the North West and further reinforce Graham's reputation, not just in Higher Education but generally.

 He said:

This is a really significant project with great partners and we look forward to providing the University of Salford with an outstanding new facility.

The accommodation had been designed to provide sustainable student living with a BREEAM Excellent rating, alongside the best in student community living.