When Campus Crest acquired an existing property near the OSU campus in Stillwater, OK, the firm knew a major interior renovation would be required to bring the property in line with its existing portfolio.
This presented a new opportunity for collaboration with the local community and Campus Crest Communities, Stillwater Habitat for Humanity, Stillwater Public Schools, Oklahoma State University and North American Van Lines who collaborated to execute the largest donation to date for the Stillwater Habitat for Humanity’s ReStore.
The donation was valued at well over $100,000 in ReStore value and included Campus Crest donated household items from more than 135 apartments, including refrigerators, microwaves, dishwashers, washers, dryers, couches, coffee tables, dining room sets and other miscellaneous items.
“Reuse of existing furniture and appliances not only reduces demand of virgin material but also provides quality goods at an accessible price point for those who cannot afford to purchase new,” said Ted Rollins, co-founder and CEO of Campus Crest Communities.
Electronics recycling is important to decrease contamination of our landfills, while also maximizing the reuse of non-renewable resources. Unfortunately, electronics recycling is generally not easy to do, and the importance is often unknown.
To increase awareness, The Grove properties and Campus Crest Corporate participated in the first annual Donate the Dead E-waste Drive, collecting 994 items, ranging from cellphones, receivers, remote controls, and computers.
Once the competition was over, each property manager contacted their local recycling center to properly salvage these goods. This winner of this educational event was The Grove Moscow property, located in Moscow, Idaho.
“We seek to decrease toxic materials in landfills and maximize reuse/recycling of non-renewable resources,” said Ted Rollins, co-founder and CEO of Campus Crest Communities. “From a social perspective, we want to inform residents about the importance of electronics recycling and tangible ways to properly dispose of these items at the end of their useful life.”
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.
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.
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.
Campus 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.
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 Montreal 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.
Ted Rollins discusses the company’s student housing communities and expansion plans with Carol Massar on Bloomberg Television’s “Taking Stock.”
Campus Crest, led by CEO Ted Rollins, has risen to the top of the student housing industry because of its value-driven, vertically integrated platform and hospitality brand approach. Currently, Campus Crest’s student housing properties operate under two brands, The Grove® and Copper Beech.
“Campus Crest is not just another hodge-podge of assets paying a dividend,” said Rollins. “We are a big ideas company, pioneering a brand-driven hospitality model. Our commitment to this vision has enabled us to rocket to the number two position in the student housing industry.”
The company has built a family of brands, The Grove and Copper Beech, providing a differentiated product offering in the same market and expands each brand to different markets based on demand.
“Our rapid growth rate stems from a unique market strategy that places communities near primarily non-flagship schools with high demand for student housing,” said Rollins.
Some markets are suited for both a Grove and Copper Beech property, while other markets are a better fit for one of the brands. Both brands leverage consistent messaging, marketing materials, and assets.
On Friday, July 5th representatives from Campus Crest Communities (NYSE:CCG) and its operating partner, Copper Beech Townhome Communities, visited the NYSE and ring The Opening Bell®.
Campus Crest develops, builds, owns and operates student housing communities that make a positive impact on the world. It all began with a unique vision: to create a vertically-integrated platform that could develop the best student housing properties in the industry. The Company believed it could make a difference in college students’ lives by delivering a resident-focused, service-enriched experience they couldn’t find anywhere else.
Since 2004, Campus Crest, led by CEO Ted Rollins, has risen to the top of the student housing industry because of its value-driven, vertically integrated platform and hospitality brand approach. Currently, Campus Crest’s student housing properties operate under two brands, The Grove® and Copper Beech.
Its portfolio consists of 84 communities in proximity to college campuses located throughout the U.S. With more than 44,000 beds, Campus Crest is the second largest public student housing platform. The Company continues to grow organically by delivering new properties each academic year.
Campus Crest Communities, Inc., a leading developer, builder, owner and manager of high-quality student housing properties, and Beaumont Partners SA (“Beaumont”) have entered a joint venture partnership that acquired the 711 room, 33-story Delta Centre-Ville Hotel in downtown Montreal, Quebec with plans to convert it into an upscale student housing tower.
Situated above the Square-Victoria Metro Station stop, the Montreal acquisition offers easy access to McGill University, Concordia University and L’Ecole de Technologie Superieure (ETS), a part of the Universite du Quebec network, which collectively serve more than 81,500 full-time students. The property is located in the heart of downtown Montreal, within walking distance of Old Montreal, the Bell Centre sports and entertainment complex, the Central Train Station and numerous dining and cultural attractions.
Once complete, the property will feature high-end appointments and expects to attract undergraduate and graduate students offering an upscale housing alternative with modern, attractively furnished rooms and a range of amenities including a media lounge, fitness center, library and a technology center.
Ample common areas including numerous study lounges will be designed to accommodate social and academic interaction. To foster a sense of community and promote resident engagement, the property will regularly host a variety of activities. Residents will be served by a highly trained, professional staff that includes a general manager, leasing manager, community assistants and a courtesy officer for security purposes. As part of the joint venture agreement, Campus Crest will serve as property manager.
In addition to marking Campus Crest’s entry into Canada, the project is the Company’s second urban, high-rise development. In February, Campus Crest announced a joint venture partnership to develop a 33-story, 850-bed student housing tower in University City, Philadelphia, targeted for completion in the fall of 2014.
The joint venture, which is owned 20% by Campus Crest and 80% by Beaumont, paid approximately $60 million for the property, including closing costs, fees and reserves. The partnership expects to obtain redevelopment financing later this year to fund the conversion of the hotel into an upscale student housing tower featuring a mix of single and double units. The redevelopment of the tower is slated to be completed for the fall of 2014, with leasing to begin in the fall of 2013.
“We are excited to align ourselves with Beaumont to acquire an asset in an irreplaceable location in the heart of downtown Montreal at discount to replacement cost,” said Ted W. Rollins, Co-Chairman of the Board and Chief Executive Officer of Campus Crest. “We have been evaluating the Canadian market for years and believe this is the right opportunity with the right partner to bring our unique brand of student housing to our North American neighbors.”