The University of Newcastle has announced funding of almost $100 million over the next five years for a major package of initiatives to support students.

The package includes new on-campus accommodation of 750 beds, refurbishing and upgrading existing on-campus accommodation, and 400 extra car parking spaces.

Vice-Chancellor, Professor Nicholas Saunders, said accommodation and parking were priority areas for the University and its students.

"It is well known that private rental accommodation is at a premium in Newcastle. This situation is affecting our students, particularly those who are not local and have fewer housing options.

"To provide more choice and support for all students, the University's on-campus accommodation will be enhanced and expanded.

"This funding will be directed towards upgrading of our existing 960 beds across four colleges and increasing the University's on-campus accommodation by approximately 80 per cent."

The package includes funding for 400 extra car spaces attached to the new on-campus accommodation.

"The extra parking spaces will ensure that the new accommodation does not contribute to congestion and in fact helps to alleviate parking pressure overall," Professor Saunders said.

The University provides significant assistance with on-campus and off-campus accommodation for students. In addition to web-based support, an Accommodation Hub has recently opened where students can obtain information and assistance.

The program of works will commence in early 2011. The new accommodation facility will be located adjacent to the existing on-campus accommodation precinct.