The affordable and sustainable 'university village', which is located at the Grange, on the outskirts of St Andrews, aims at reducing accommodation pressures and provides a mixture of houses and cottage flats available for rent.
The project is in partnership with Kingdom Initiatives, part of the Kingdom Group, which will manage and maintain the homes, meanwhile, the university will sign occupancy agreements with customers.
Speaking at the unveiling of the village, Principal, Professor Dame Sally Mapstone, said: "I am pleased that this unique partnership with Kingdom Initiatives has brought real benefits to our staff, students and their families.
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"The investment made by the University in providing high-quality, affordable and sustainable housing demonstrates our commitment to enhancing the lives of postgraduate students and academics, as well as helping us meet ambitious net-zero targets."
Meanwhile, Kingdom Group Chair Linda Leslie, added: "We are thrilled to be part of this ground-breaking partnership with the University of St Andrews.
"This project is a brilliant example of how much can be achieved through close collaboration and it underlines our commitment to building innovative and sustainable communities.
"The University of St Andrews is an extremely prestigious organisation and I’m proud that Kingdom has been able to support the University’s goals of providing high-quality affordable homes to postgraduate students."
The accommodation has already proven to be a success with occupants, as postgraduate student Laura Marquez-Navas, who moved into her new home at the Grange with her nine-year-old son, explained.
"Since I received my conditional offer at the beginning of March, I started to look for accommodation in St Andrews and the surrounding area every day, unsuccessfully," she said.
"However, a few days after my I received an unconditional offer, I was put in touch with the University's accommodation team and in a matter of days I was notified that I had been allocated a house at the Grange.
"I almost couldn’t believe it, the relief I felt was huge. The Grange area has beautiful views and the houses are very nice and cosy."
