Arscott House residents will not be affected when the University of Canberra takes over the student accommodation next month as a result of financial issues, management says.
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The University of Canberra Students' Association runs Arscott House, an on-campus block of student accommodation with 216 rooms.
But president Jacob White said the association could no longer afford to run the facility and would hand over management to the university.
Mr White said the costs associated with running student housing, along with the amount of new accommodation that had been built on campus, was behind the decision.
The university was going to terminate the association's management contract for Arscott House at the end of the year, he said, but student management had decided to hand it back early to "mitigate the financial realities" of running the facility.
Mr White said Arscott House's rooms were not full this year.
"It is sad news, it's a great place, a fun place, I always enjoyed going down there," he said.
A spokesman for the University of Canberra said the handover would take place next month.
He said residents would not be affected by the change in management arrangements.
"This agreement is the result of constructive and positive negotiations designed to ensure a smooth transition," he said.
