PRASA Turns Unused Braamfontein Building into 700-Bed Student Housing Hub

Developed by PRASA’s subsidiary, Intersite, the 12-storey Lab Building Student Accommodation represents a bold repurposing of an underused office block into a 700-bed modern residential facility.

The Passenger Rail Agency of South Africa (PRASA) has unveiled a state-of-the-art student accommodation facility in Braamfontein, Johannesburg — a move that underscores the agency’s expanding role in promoting socio-economic development through the innovative use of its real estate assets.

Transforming Unused Assets into Opportunities

Developed by PRASA’s subsidiary, Intersite, the 12-storey Lab Building Student Accommodation represents a bold repurposing of an underused office block into a 700-bed modern residential facility. The building, ideally situated near Johannesburg’s Park Station and major universities, provides affordable, safe, and conveniently located housing for students from surrounding institutions of higher learning.

The project embodies PRASA’s Rail + Property vision — a strategy that leverages the agency’s extensive property portfolio to support the sustainability of its core rail operations while contributing to urban renewal and youth development.

Strategic Partnership and Economic Impact

The redevelopment was carried out in partnership with Elevated Fund, a co-development model that aligns with Intersite’s mandate to generate income from PRASA’s non-rail assets. By turning dormant infrastructure into high-value property developments, the agency is reinforcing its role as both a transport operator and a catalyst for economic revitalization.

“This project embodies our commitment to reimagining transport-linked properties as drivers of social and economic progress,” said PRASA Board Chair Nosizwe Nokwe-Macamo during the launch. “Transforming underutilised buildings into vibrant, dignified spaces for students is a clear reflection of how transport assets can serve communities while strengthening public infrastructure.”

Empowering Students and Strengthening Communities

The Braamfontein facility is strategically located within Johannesburg’s integrated public transport network, connecting students directly to rail and bus routes, and to the retail precinct at Park Station. The development is also expected to inject renewed vitality into the inner city, supporting local businesses and improving safety through increased foot traffic and consistent occupancy.

By offering affordable accommodation, PRASA and Intersite are addressing one of the key challenges faced by university students — access to safe, well-located housing. The initiative aligns with national priorities of urban regeneration, education support, and job creation through construction and property management.

Intersite’s Broader Development Vision

Intersite’s broader objective is to ensure that PRASA’s property assets generate sustainable revenue for the agency while meeting social needs. The subsidiary is pursuing multiple projects through co-investments, property redevelopment, lease buybacks, and modernization of station precincts.

“The Board’s task is to ensure that Intersite operates with commercial discipline, strategic agility, and developmental purpose — proving that State-owned entities can achieve both profitability and public good,” said Intersite Board Chair Ayanda Peter.

Driving PRASA’s Rail + Property Strategy

PRASA’s Rail + Property strategy sets an ambitious goal to grow property-generated revenue to R2.5 billion by 2035. This will be achieved through a mix of renewable energy investments, fibre-optic network rollouts, and innovative real estate developments — each contributing to the financial resilience of the rail sector.

The Braamfontein student housing project, therefore, stands as more than just a property development — it marks a symbolic shift in how public assets are used to serve both economic and social imperatives. As the agency continues to unlock the value of its portfolio, such initiatives will likely become a model for sustainable development across South Africa’s urban transport landscape.