American Campus Communities and Butler University Commence Construction on New Student Housing Facility
May 05 2017 - 2:59PM
Business Wire
American Campus Communities (NYSE: ACC), the nation’s largest
owner, manager and developer of high-quality student housing
properties in the U.S., celebrated the commencement of construction
on a new student housing facility at Butler University in
Indianapolis, IN with a beam signing event.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20170505005793/en/
Butler Blue - Beam Signing (Photo:
Business Wire)
Upon completion in fall 2018, the 648-bed community will be
located on the southern border of the Butler campus, creating a
welcoming gateway into the heart of campus. The community will
feature modern, suite-style accommodations, resources for academic
success and state-of-the-art amenities for fitness and fun,
including a fitness center, gaming lounges and more.
“President Danko has a vision for an unmatched residential
experience on the Butler University campus,” said Jamie Wilhelm,
EVP Public-Private Transactions. “Fairview House was delivered as
the first phase of the Butler-ACC partnership in Fall 2016 and has
already received two awards for excellence in design and
sustainability. We’re excited for this second phase to provide the
University’s first-year students with a modern, academically
oriented residence community and expand Butler’s extraordinary
housing portfolio.”
The community will be the second phase in the Butler
University-American Campus Communities partnership, which delivered
Fairview House in Fall 2016. The partnership got its start in 2014
with a goal to realize Butler’s 2020 Vision of becoming an
innovative national leader in undergraduate residential
education.
“The addition of this new facility is a critical step toward
advancing Butler’s educational mission through superior campus
amenities, and the ultimate realization of Butler’s 2020 Vision as
an innovative national leader in undergraduate residential
education,” Butler President James M. Danko said in the
University’s press release for the event. “By the time this new
housing opens, we will have added almost 1,300 new beds to campus
in two years and given prospective students yet another reason to
choose Butler.”
The public-private partnership transaction was structured under
the American Campus Equity (ACE)® program, which gives
universities the opportunity to expand and modernize their student
housing portfolio without the use of university financial
resources. Under the ACE program, ACC delivers high-quality student
housing at lower development costs and operating expenses, as well
as affordable rents to residents, without the use of taxpayer or
university funds, which allows universities to dedicate their
capital to educational and research facilities.
“By working with ACC, we are able to concentrate on our core
mission: educating our students,” Butler Vice President of Finance
and Administration Bruce Arick said. “ACC’s investment allows
Butler to focus and prioritize resources toward the development of
new, state-of-the-art academic space to better serve students. We
have hundreds of millions of dollars of construction and
development that we’ve prioritized for the sciences, a new school
of business building, and more. We couldn’t afford to do those
projects and invest in our student housing.”
The event was held on the Butler University campus, and featured
a beam signing – University students, faculty, staff and alumni
were invited to sign a structural beam that will be used in the
construction of the project.
About American Campus Communities
American Campus Communities, Inc. is the largest owner, manager
and developer of high-quality student housing communities in the
United States. The company is a fully integrated, self-managed and
self-administered equity real estate investment trust (REIT) with
expertise in the design, finance, development, construction
management and operational management of student housing
properties. As of March 31, 2017, American Campus Communities owned
157 student housing properties containing approximately 97,500
beds. Including its owned and third-party managed properties, ACC's
total managed portfolio consisted of 194 properties with
approximately 127,200 beds. Visit www.americancampus.com.
Forward-Looking Statements
In addition to historical information, this press release
contains forward-looking statements under the federal securities
law. These statements are based on current expectations, estimates
and projections about the industry and markets in which American
Campus operates, management's beliefs, and assumptions made by
management. Forward-looking statements are not guarantees of future
performance and involve certain risks and uncertainties, which are
difficult to predict.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170505005793/en/
American Campus Communities, Inc.Gina Cowart, 512-732-1000Media
Relations
American Campus Communit... (NYSE:ACC)
Historical Stock Chart
From Mar 2024 to Apr 2024
American Campus Communit... (NYSE:ACC)
Historical Stock Chart
From Apr 2023 to Apr 2024