Uliving will also manage the development for 50 years.
Uliving is led by Bouygues Development and includes Derwent Living, a housing and facilities management specialist.
Within the consortium, Bouygues Development is responsible for the property development, financial and legal aspects of the project, which consists of 23 buildings providing 3,000 student bedrooms, associated social spaces and a campus gym. Design and construction will be undertaken by Bouygues UK under a contract worth £117m.
The University of Hertfordshire campus is aiming to be one of the most sustainable developments in the UK. The timber-frame buildings will be equipped with their own energy-production infrastructure based on a power and heat cogeneration system. According to Bouygues, they will achieve a true zero carbon accreditation and meet BREEAM Outstanding requirements.
Madani Sow, chairman of Bouygues Development and Bouygues UK, said: “We are proud to be a partner of the University of Hertfordshire on this operation, which strengthens our leadership position on the student accommodation market, with 5,000 rooms currently under construction”.
The works will take three years to complete, with the site remaining in full operation throughout the construction period, and will involve more than 200 people on site at peak periods.
Equity partners for the scheme are Meridiam Infrastructure Finance II, Bouygues Development, Centro Place Investments, a subsidiary of Derwent Living, University of Hertfordshire and Legal and General Assurance Society.