Tag Archives: Campus Crest Communities

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.

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Campus Crest’s approach to student housing

Campus Crest is structured on a vertically integrated platform that includes development, construction, real estate management, and asset management. This operating platform allows us to control asset quality, reduce cost, increase delivery speed, improve operating efficiency, and ultimately, drive value for stakeholders.

“Our approach to student housing looks like none other,” said Ted Rollins, chief executive officer of Campus Crest Communities.  ted rollins build

Vertical integration has made it possible for us to implement prototype construction, where repetition of product has resulted in smarter construction, consistent operational practices, and a hospitality brand model across the portfolio.

“Our construction strategy includes repetition and refinement of prototype, a captive general contractor and construction manager, and captive wholesale supply that results in a 15-20% cost savings, giving Campus Crest a strong market advantage,” said Rollins.

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Ted Rollins Discusses Perspectives on Campus Crest Development

According to Ted Rollins, CEO of Campus Crest, his development team executes locally, while being supported by corporate staff. Their main responsibilities are site selection, investment underwriting and entitlements.

“Site selection is very important and not something that’s taken lightly,” said Rollins. “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 is chosen.

In terms of underwriting, Rollins and his team focus on the details of each potential project.Ted-Rollins-CampusCrest-planning

“Every project is reviewed and approved by all key members of our executive team,” said Rollins. “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.”

The team collects and summarizes a variety of information and uses it to create development, construction and operating plans 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,” said Rollins.

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Ted Rollins shares real estate management directives

Ted Rollins, CEO of Campus Crest, is dedicated to four specific directives in terms of real estate management of his properties.  In order to insure quality, these principles were developed to help manage the sites with quality and proactive response.

The first directive is “keep it pretty”.  It’s nearly impossible to change a person’s first impression. So the appearance of Campus Crest Communities is vital to attracting prospective residents. Rollins’ property level management teams are accountable for regular reporting, preparing for executive management site visits, quarterly quality audits and most importantly, maintaining a facility that our residents can be proud of and their friends envious.

“Keep ’em fun” is the second initiative. Creating the lifestyle is what sets Campus Crest apart from everyone else. Getting students and staff involved in something bigger than themselves, including helping to create friendships and lifelong bonds. There are so many great events ranging from Crawfish boils to yoga classes. Rollins is creating more than just a place to stay; he’s creating a community.

Thirdly, the dedicated Campus Crest teams are committed to “keep ‘em full”.  Nobody wants empty rooms, so staff is educated on the best ways to sell the Grove Lifestyle. They’re also trained in hospitality management, lifestyle programming and customer service. As a result, resident retention is one of the highest in the industry.Ted-Rollins-CampusCrest-students-Housing

“We want everyone to know that we don’t just build and fill buildings,” said Rollins.  “We create communities. And we use this message to help achieve our leasing goals.”

Finally, the end goal is to “keep ’em profitable”.  As for most businesses, profit is essential. Campus Crest has been working with one of the leading multifamily software designers to create a platform for its operating properties. It gives real-time data to the local area and corporate managers in order to keep a tight control on property operating expenses.

“We educate our mangers to focus on creating a stronger bottom line so the company and everyone involved can enjoy the opportunities it brings,” said Rollins.

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Ted Rollins and Campus Crest Donate Housing to Horatio Alger Association Scholars

Horatio Alger Scholars Deanna Keller and Olivia Thain, Campus Crest Founders Mike Hartnett and Ted Rollins at the 65th Annual Horatio Alger Awards Event

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