GMI Construction is to deliver a £50m student accommodation scheme in York.
The four-story building will have 275 beds, along with a gym, yoga studio, game room, cinema, co-working space and communal dining rooms.
The 7,400 sq m scheme will be known as the Rialto, in homage to the cinema and bingo hall (demolished in 2022) that stood on the site between 1913 and 2003.
GMI announced yesterday (October 18) that construction work for client Olympian Homes will begin in the coming weeks, following the completion of archaeological surveys.
Andrew Hurcomb, GMI’s regional director for Yorkshire, said the Rialto work will “contribute to the creation of much-needed student accommodation in York”.
The contractor said in a statement: “GMI has worked closely with Olympian Homes and its professional team throughout the period of the pre-construction services agreement to develop a buildable, cost-effective and sustainable design.”
Leeds-based demolition services confirmed this Construction news which demolished the old Mecca bingo hall in early 2023.
Olympian Homes received £150m from property investor Cain Capital to develop the Rialto project and another 45-storey tower in Leeds containing 660 student flats, which is being built by RG Group.
GMI is also currently working on another student accommodation scheme in York, offering 303 beds in a four-storey building.
In its latest set of accounts, GMI reported that its turnover had tripled from £121m the previous year to £360m, although it also posted a pre-tax loss of 2 .2 million pounds. The company moved its North East division to a larger site in Stockton-on-Tees in March 2023 in order to gain more work in the region.
