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Campus Crest Communities
Real Estate - Property Mgt
500 - 1,000
Back in the 1950's, a student-housing surge began when the baby boomers started college. High rises with shared bathrooms; bedrooms and cafeteria-style dining halls were quickly built to keep up with demand.
Now, many of these older structures are poorly maintained and out of date. According to a recent survey by the Rosen Group, only 1 in 4 students can be housed on campus in many of the growing markets around the country. In addition to that, incoming students who aren't familiar with having to share a room, due to fewer siblings, aren't happy with their living arrangements. Most parents aren't either.
Students are unlikely to live on campus after their freshman year, unless they are provided such options as an apartment or private rooms similar to off-campus housing. Kitchens, private bathrooms, study lounges, and social spaces used to be considered luxuries. Now they're considered necessities. Thus the demand for better student housing.
Mike Hartnett and Ted Rollins were classmates at Duke business school and have worked together on and off over the last 24 years. In 2004, Mike and Ted founded Campus Crest Communities. They had a vision to develop the best "Fully Loaded" student housing properties in the industry. Today, there are 33 operating properties and 6 under development for delivery in fall 2012.
Our Development Team executes locally, while being supported by our corporate staff. Their main responsibilities are site selection, investment underwriting and entitlements.
Site selection is very important and not something that's taken lightly. Our team, including our founders, works with regional development partners strategically located across the United States. They provide them with a list of potential markets based on research. Each location must comply with a site criteria checklist and pass certain filters before it's chosen.
We focus on the details of each potential project. Every project is reviewed and approved by all key members of our executive team. By the time we are prepared for final approval, each member of our senior team has been to the site, reviewed all of the information at our underwriting committee meeting and signed off on the project. We collect and summarize a variety of information and use it to create our development, construction and operating plan for each new property.
The Campus Crest Development team spends many hours creating the best possible site plan for each project and takes into consideration all the possible points. Each project is considered in the overall context of each unique municipality and goes through iterations to create the most effective and cost-efficient plan. Once this is in place with each community, we then work with the various professionals in each market to deliver the fully designed package and work with them and the local municipality to gain all entitlements and permits necessary to construct the project.
Phone: (704) 496-2500
Fax: (704) 496-2599
2100 Rexford Road # 414
Charlotte, NC 28211-3484
at Campus Crest Communities
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