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.
“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.