GMI Construction Group and Olympian Homes celebrate completion of York’s Rialto House PBSA

GMI Construction Group and Olympian Homes have marked the completion of Rialto House, a £50 million purpose-built student accommodation (PBSA) development in York that delivers 275 high-quality student bedrooms and state-of-the-art amenities in a design-led environment.

The four-storey scheme on Fishergate, developed by Olympian Homes, funded by Cain International and built by GMI, provides 80,000 sq. ft. of modern living space tailored to meet the city’s growing demand for student housing. Rialto House is just a ten-minute walk from the city centre and seven minute bus ride from the University of York.

With a focus on student welfare, it features a comprehensive range of facilities including gym, yoga studio, games area, podcast studio, music room, co-working spaces, group dining areas, landscaped courtyards, and integrated cycle storage. In recognition of the site’s heritage, it also includes a bespoke in-house cinema, a nod to the former Rialto Cinema from which it takes its name.

It is one of three PBSA schemes GMI is delivering in York, reinforcing its position as a key player in strengthening the city’s higher education offering and addressing a national shortage of student accommodation.

Ed Weston, Regional Director for Yorkshire at GMI Construction Group, said: “Rialto House is a flagship scheme delivering excellence in student living while honouring the legacy of a much-loved York landmark. We’re delighted to have completed this project in partnership with Olympian Homes and are proud to be playing a key role in tackling the student accommodation shortfall through our growing portfolio of PBSA developments. I also hope this marks the start of a strong and long-lasting relationship with Olympian and we look forward to collaborating on future opportunities.”

Mark Slatter, Chair of Olympian Homes, added: “With Rialto House, we set out to create something distinctive, delivering outstanding student living. Thanks to GMI and our funding partner Cain International, this scheme sets a new benchmark for purpose-built student accommodation in York. The result from GMI is outstanding, with a level of finish that stands among the highest we’ve been involved with.”

The development stands on the former site of the Rialto Cinema, which first opened in 1913, and the adjacent Mecca bingo hall. The cinema holds a special place in local memory, having hosted four performances by The Beatles in 1963, just months before their rise to global fame.

Demolished in 2003 and used as a car park for many years, the Rialto site has been transformed into a new residential community that will welcome students from the autumn term onwards.

Olympian exchanged contracts on the site in April 2021 and submitted a planning application in June 2021 to demolish the existing Mecca Bingo Hall. Works began in Q2 2022 after GMI secured the contract. Olympian and Cain International completed a funding agreement for the scheme, alongside a second PBSA scheme, in 2023.

GMI delivered the project using a predominantly local supply chain, reflecting its commitment to regional growth and sustainability.