That 3m equates to roughly 20000 new employees - given that it's unlikely that many of them will be coming off the unemployment register - I'm guessing that they won't currently live here - so where are they going to live? And where are the planning initiatives to ensure that that accommodation is provided?
seems like student accommodation is the fallback after grade-a office space - high-density, low-spec, short-leases (so no rental cap?), ready supply of foreign students etc.
you could argue that increasing availability of student accommodation will decrease pressure on traditional student rentals (houses / flats) but probably not significantly. there isn't a master plan.