Category Archives: Community Development

Developer to cover 62.5 percent of the cost of upgrading Union Township’s sewer system

In Michigan, work has begun on the first phase of a planned upgrade of Union Township’s sewer system to keep up with current and expected growth.

sewers improvedCampus Crest Communities of Charlotte, N.C., led by CEO Ted Rollins plans to build 216 units of high-end student housing off Isabella Road between Bluegrass and Broomfield roads.

Because the current pumping station serving that neighborhood doesn’t have enough capacity to handle this amount of waste, the developer has agreed to pick up about 62.5 percent of the cost of upgrading.

According to The Morning Sun of Central Michigan, Crews from Porath Contractors of Houghton Lake have begun work on adding a 4,000-foot-long, 12-inch sewer main along Deerfield Road.  

The $274,000 project will add substantial capacity to handle sewage flows from the apartment complexes along Deerfield Road just south of the Mt. Pleasant city limits, as well as from other residential development in the southwest part of the township.

Improvements at the township’s Lift Station No. 2 on Isabella Road are expected to start soon, as well. RCL Construction of Sanford was the low bidder at $183,700.

With more development expected in Union Township, plans are being made for an upgrade of another pumping station to handle further increases.

Tagged , , , ,

Tuscaloosa City Council unanimous in approval of new student apartment complex

A new $30 million, 628-bed student housing complex by Campus Crest Communities gained unanimous approval from the Tuscaloosa City Council.

Led by CEO Ted Rollins, the firm develops, owns and manages student-housing communities throughout the U.S.

The City Council heard a rezoning request to convert 0.4 acres of the overall 15.86-acre site to riverfront development zoning, putting it in line with the remainder of the tract. A second item was a vote to approve the site development plans of The Grove at Tuscaloosa, which is a City Council requirement for any project in the riverfront development zone.

“It’s been a long time coming for us,” said Alex Eyssen, director of development for Campus Crest Development, the Charlotte, N.C.-based company behind the project. “We look forward to being a long-term member of the community.”Tuscaloosa

At this stage, the project still needs to obtain permits and have its plans finalized by the city’s Department of Planning and Development Services. The 228-unit complex is expected to be complete for the fall 2015 semester.

The proposed development plans to have a clubhouse, swimming pool, recreational areas and a parking deck. Units will be furnished, with full kitchens, washers and dryers and high-speed Internet access.

The developers also intend to construct a $1 million improvement to the interchange of Jack Warner Parkway and McFarland Boulevard to provide better access to their Sixth Avenue development.

The plans’ approval by the City Council paves the way for the construction, which will be alongside The Bluffs at Waterworks Landing, a 116-unit, 208-bed complex completed alongside the Black Warrior River in 2008.

Tagged , , ,

Campus Crest one of Charlotte’s top-performing public companies

Led by CEO Ted Rollins, Campus Crest reports a boost in Q2 with net income available to common shareholders of $2.8 million, or 4 cents per share, in the second quarter, swinging from a loss of $676,000, or 2 cents per share, a year earlier.

CharlotteCampus Crest is one of the Charlotte area’s top-performing public companies, according to Charlotte Business Journal research. The firm develops, owns and manages student-housing communities throughout the U.S. Revenue for the Charlotte-based student-housing developer totaled $38.9 million in the latest period, up from $35.4 million last year’s second quarter, according to its earnings release.

During the latest quarter, Campus Crest announced a deal with Beaumont Partners that will take the local developer into Canada for the first time. As previously reported, that venture involves buying a 33-story, 711-room hotel in Montreal and converting it into student housing.

Campus Crest has six projects under construction, with completion expected in time for the 2013-14 academic year.

For the year to date, Campus Crest has earned $3.8 million, or 7 cents per share, on revenue totaling $74.2 million. The company lost $2.3 million, or 7 cents per share, on revenue of $68.3 million in the first half of last year.

Tagged , , ,

Campus Crest launches upscale urban housing concept

As a new method of targeting mature undergrads and grad students, Campus Crest Communities, Inc. has introduced a new brand to strengthen its product offering and growing family of brands: evo™, an upscale urban student housing concept.

Campus Crest, led by Ted W. Rollins, co-Founder and CEO,  will develop dynamic, sophisticated student housing properties in urban settings, and will open its first two Evo properties in the Fall of 2014.

The Grove at Cira Centre South in Philadelphia will be renamed Evo at Cira Centre South. Evo at Cira Centre South will be the tallest student housing property in the country with 33 stories and 850 beds. Evo Montskyline-640x382real is the Company’s first entrance into the international market and will feature 1000+ beds, state of the art study lounges, fitness centers and well-appointed apartment suites.

“We are the pioneers of the hospitality brand model in the student housing industry, and the evo brand is a natural complement to our existing portfolio. The brand solidifies our commitment to evolve student living in urban markets by providing an unmatched living experience with state-of-the-art amenities and conveniences,” said Rollins.

Evo will be joining Campus Crest’s brand portfolio that consists of The Grove and Copper Beech.

The Grove is Campus Crest’s garden-style brand of lifestyle-driven student housing communities, located across the U.S. The Grove communities embrace a flat rate concept with an active residence life that has proven to be very attractive to college students and parents.

Copper Beech is the Company’s townhome community brand, focused on delivering value to upper classman and graduate students looking for a more residential feel and freedom in their college experience. Each Copper Beech community typically features the largest units in the market with one, two, three, and four bedroom townhomes.

The Company’s vertically integrated platform, solid operating strategy, and exceptional talent base will continue to propel all three brands forward.

Tagged , , , , , ,

Campus Crest Communities Named Top Dividend Stock

“Campus Crest Communities, Inc. shares are currently trading +1.02% on the day. The DividendRank report noted that among the coverage universe, CCG shares displayed both attractive valuation metrics and strong profitability metrics. The report also cited the strong quarterly dividend history at Campus Crest Communities, Inc., and favorable long-term multi-year growth rates in key fundamental data points.

Looking at the chart above, CCG’s low point in its 52 week range is $10.41 per share, with $14.36 as the 52 week high point — that compares with a last trade of $11.93.”

View the entire article here!

Tagged , ,

Campus Crest proposes new student housing development in Tuscaloosa

Campus Crest Communities, a leading developer, builder, owner and manager of high-quality student housing properties led by CEO Ted Rollins, is proposing a new student housing development in Tuscaloosa. This is a 228-unit, 628-bed complex planned for Sixth Avenue Northeast on the site of the city’s former water works operation, just north of the intersection of McFarland Boulevard and Jack Warner Parkway.401px-Black_Warrior_River,_taken_by_beigeinside

Before construction can begin on the project — The Grove at Tuscaloosa, proposed by Campus Crest Development of Charlotte, N.C. — it must go through an approval process with City Hall.

The city Planning and Zoning Commission will hear a rezoning request for the 0.4-acre site. It will then go before the City Council for a final vote.

Alex Eyssen, director of development for Campus Crest Development, cited the proposed development’s proximity to campus — less than a mile from classroom buildings — and the Black Warrior River as a reason Campus Crest Development sees this as a worthwhile investment.

Tagged , , , ,
%d bloggers like this: