Elkstone unveils new PBSA project in Galway City Centre

Ireland’s alternative investment firm Elkstone has announced the completion of Queen Street Place, a new 345-bed PBSA in Galway City Centre, set to open in September 2026.

Queen Street exterior

This is the first of two PBSA developments by Elkstone in the city; a second scheme, Westside, will add another 240 beds by September 2027, bringing Elkstone's total investment in Galway student accommodation to approximately €100 mln and 585 beds.

The delivery of Queen Street Place aligns with Elkstone's broader strategy to deploy significant institutional capital to tackle Ireland's severe housing shortages. The firm boasts a €2 bn development pipeline and a growing portfolio of over 3,200 properties across Ireland.

Located centrally in Galway, Queen Street Place is an eight-story building designed to high sustainability standards, achieving an A energy rating. It offers students a fully-equipped and managed living environment with excellent connectivity. Amenities include a wellness hub with a gym, fitness studio, landscaped rooftop terraces, a cinema room, dedicated study areas, a 24/7 reception, bicycle storage, a students’ lounge, and laundry facilities. The development is conveniently close to the University of Galway, Ceannt Train Station, and Eyre Square.

Elkstone has brought over 1,500 units through planning in the last two years. Through partnerships with the Land Development Agency and international capital partners, Elkstone aims to become a major developer, delivering housing at scale to address the country's pressing supply challenges.

Queen Street Place marks Elkstone's first investment in western Ireland and is expected to significantly ease the shortage of student accommodation, thereby freeing up rental homes for the wider Galway community.

Monami Construction served as the main contractor, Mezzino will manage the property, while Activate Capital provided development finance for both Galway schemes.

Joe Bergin, CEO, Elkstone, said: "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. 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."