Milestone reached in development of £50m Rialto House student accommodation

A significant milestone has been reached in the redevelopment of the former Rialto Cinema site in York, as GMI Construction Group and developer Olympian Homes marked the topping out of Rialto House, a £50m purpose-built student accommodation (PBSA) scheme.

The four-storey development, located on the site of the iconic cinema and later Mecca bingo hall, will provide 275 student beds across 80,000 sq. feet of modern living space. Set to open in time for the 2025 academic year, Rialto House is expected to help address York’s pressing demand for high-quality student accommodation.

Named after the historic cinema, which famously hosted The Beatles, the new development honours its roots with a bespoke in-house cinema alongside state-of-the-art facilities including a gym, yoga studio, games room, co-working spaces, group dining areas, integrated cycle parking, and landscaped courtyards.

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Strategically situated in Fulford, just a 10-minute walk from the city centre and a seven-minute bus ride from the University of York, Rialto House is designed to enhance the student living experience. It also aims to alleviate the strain on York’s existing housing stock by contributing much-needed purpose-built student homes.

The GMI & Olympian Homes teams on the roof of Rialto House to mark the milestone in constructionThe GMI & Olympian Homes teams on the roof of Rialto House to mark the milestone in construction
The GMI & Olympian Homes teams on the roof of Rialto House to mark the milestone in construction

William Sharpey, Senior Construction Manager for Olympian Homes, expressed his enthusiasm for the project’s progress, stating: “Reaching the topping-out stage on time and within budget is a major milestone, and perfectly positions us to focus on achieving practical completion by June 2025.

“Rialto House is set to raise the bar for student living. In a market with a significant undersupply of PBSA, it will provide students with an exceptional living experience, helping them thrive both academically and socially.”

The project reflects GMI’s commitment to sustainability and regional economic growth, with a predominantly local supply chain employed during construction. Ed Weston, Commercial Director of GMI Construction Group, highlighted the collaborative efforts that have brought the project to life:

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“The topping-out of Rialto House is a testament to the seamless collaboration between GMI and Olympian Homes. It signifies the progress we’ve made in bringing this project to life, balancing and blending a modern design with the site’s historical legacy.

The teams from GMI Construction and Olympian Homes on the roof of Rialto House, to mark the milestone in the construction of the developmentThe teams from GMI Construction and Olympian Homes on the roof of Rialto House, to mark the milestone in the construction of the development
The teams from GMI Construction and Olympian Homes on the roof of Rialto House, to mark the milestone in the construction of the development

“We’re proud to deliver a sustainable, best-in-class accommodation that addresses York’s critical need for high-quality student housing while also enhancing the area’s unique character and community.”

The site, which sits adjacent to York’s Central Core Historic Conservation Area, has a rich history, having opened as a cinema in 1913 before being repurposed as a bingo hall. Following its demolition in 2003, the site was used as a car park. Rialto House will now rejuvenate the space, blending modern student living with a nod to its cinematic past.

Rialto House, with its thoughtfully designed features and strong links to local history, represents a key step forward in York’s evolving student accommodation landscape.

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