aparto Milan Giovenale, a purpose-built student accommodation (PBSA) scheme in Milan, Italy has opened in the heart of the city – at the former La Rinascente department store. The scheme is set to revolutionise student housing in Italy by creating a community of young people, inspired by culture, inclusion, sustainability and wellbeing. aparto Milan Giovenale PBSA is owned by Living 2.0 Fund, managed by Savills Investment Manager SGR SpA, and invested into by global real estate firm Hines in a joint venture with Blue Noble, an international real estate investment manager.
The development of the scheme was led by Hines Italy and is the Group’s first in Italy. The scheme is fully owned by Hines and financed by Bank Unicredit. This will be Hines’ 15th operational student accommodation asset in Europe which will be managed by aparto, the international student housing platform.
“It is very satisfying for Blue Noble to mark the formal opening of aparto Milan Giovenale, the first in a series of developments in Italy with our local partners, Hines. Exceptional standards of amenity and sustainability have been provided at aparto Milan Giovenale offering students a first class, modern and welcoming environment in which to study. Investment into sustainable and socially responsible projects is one of the key principles for the Blue Noble business and with aparto Milan Giovenale setting new benchmarks, we are delivering on our goals.”
Paul Forshaw, Founding Partner and CEO, Blue Noble
The 16,000 sqm aparto Milan Giovenale schemes includes c.600 student beds – and offers students medium to long term stays. Furnishings were made in a partnership between the English studio Carmody Groarke and the Italian company Cesare Roversi. Amenities include communal spaces designed for study and leisure, a gym with the latest Technogym equipment, yoga area, laundry services, cinema, games rooms and equipped outdoor spaces.
aparto also creates development opportunities for its students with a series of innovative partnerships that provides them with a first-class living experience. The main partnerships for this scheme are Taldeg which has created art installations in the communal spaces, Technogym which provides students with training facilities to support wellbeing, Unobravo for mental health support services to students – and, at the same time, specialised training for staff.
Designed and built according to the highest environmental, sustainability and energy efficiency international standards, aparto Milan Giovenale will be the first Gold LEED certified Italian university residence. This is part of aparto’s ongoing ESG commitment. Beehives have also been installed on the roof by Apicolturaurbana to help preserve the city’s biodiversity.
“It is a source of great pride for us to celebrate aparto’s arrival in Italy. With its strong European experience, aparto has made outdated infrastructure, poor quality finishes and gloomy environments a thing of the past by developing a new model for student housing based on quality amenity provision, a first-class experience programme and fantastic facilities.
“This project allows us to present Milan with a modern, sustainable building that will enrich the social fabric of this part of the city, become an incubator for young talent and mirror what students, and parents, seek today and tomorrow. aparto Milan Giovenale also captures the full essence of Hines’ values, which place social responsibility at the heart of everything we do.”
Mario Abbadessa, Senior Managing Director and Country Head at Hines in Italy
Milan Giovenale is located in a prime area a few steps away from Bocconi University, between via Giovenale and via Col Moschin, and students will benefit from a good travel network to the city centre and other main Milanese universities.
Since January 2022, aparto Milan Giovenale has welcomed c.400 international students and this is expected to increase to 600 by the start of the academic year in September.
