Arizona State University and American Campus Communities Further Nation’s Largest Student Housing Partnership
November 09 2015 - 06:36PM
Business Wire
Breaks ground on living/learning facility for Fulton Schools of
Engineering
American Campus Communities (NYSE: ACC), the nation’s largest
owner, developer and manager of high-quality student housing, will
break ground on Tuesday, Nov. 10, on their sixth student housing
transaction with Arizona State University. Upon its opening in Fall
2017, the $120 million living/learning facility will house 1,594
students enrolled in the Ira A. Fulton Schools of Engineering,
which is ranked in the top 25 percent of all engineering programs
in the country. The university has more than 19,000 students
studying in degree programs in the Fulton Schools of
Engineering.
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Ira A. Fulton Schools of Engineering
Residential College (Photo: Business Wire)
The property will feature E-Space, which is a 3,500-square-foot
maker lab outfitted with resources that specifically cater to the
needs of Fulton Schools students. This space enables individual or
group student work in a convenient location where many of the
students will live. At the same time, through the use of
transparent materials and a ground floor location, the design of
this space will showcase student work to passersby and other
students as a means to expand the conversation and increase
visibility around the programs.
The dining facility also has been designed with Fulton Schools
of Engineering students in mind. At approximately 14,000 square
feet and with seating for 500 students, the new hall’s dining
facility is inspired by the native desert landscape with a nod to
an industrial aesthetic, reflecting the Fulton Schools’
living/learning community. The dining hall features four food
stations and a mixture of seating types, including counter seating,
booth seating and tables. On the mezzanine level, a tech
lounge is provided, along with individual seating pods with views
to the landscape and main level.
The new residence hall will be located in the heart of campus on
East University Drive, providing residents with the option to walk
or bike to class. The property features student-centric amenities
such as social and recreation lounges, an Academic Success Center,
a cardio fitness room, and several academic study spaces.
Under its American Campus Equity (ACE) ® program, American
Campus Communities has developed more than $470 million in ASU’s
on-campus housing facilities dating back to the development and
opening of Vista del Sol in 2007. With additional projects
including Barrett Honors College, the Villas at Vista del Sol, Casa
de Oro at the West campus and Manzanita Hall, American Campus
Communities now owns more than 6,750 beds at Arizona State
University.
“Arizona State University is committed to providing world-class
living and learning facilities to its students,” said Morgan Olsen,
Executive Vice President, Treasurer and CFO at ASU. “This new
residential college for the Fulton Schools of Engineering will
provide that environment for almost 1,600 Sun Devils and highlights
the continually rising quality of the research, education and
experience at ASU.”
“We’re excited to be breaking ground on our sixth large-scale
student housing transaction with ASU,” said Bill Bayless, ACC CEO.
“This partnership has been an integral part of President Crow’s
unparalleled vision for student life at ASU, and has served as a
model for colleges and universities across the nation seeking to
modernize campus housing.”
What: Groundbreaking event for new engineering residential
collegeWho: Leaders from ASU and ACCWhen: Tuesday, Nov. 10 at 3
p.m.Where: PV Beach, 500 E University, Tempe, Ariz. 85281Media
contact: Meenah Rincon—480-727-3116 or herminia.rincon@asu.edu
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 September 30, 2015, American Campus Communities
owned 158 student housing properties containing approximately
96,300 beds. Including its owned and third-party managed
properties, ACC's total managed portfolio consisted of 197
properties with approximately 125,800 beds. Visit www.americancampus.com.
About ASU
Arizona State University has developed a new model for the
American Research University, creating an institution that is
committed to excellence, access and impact. ASU measures itself by
those it includes, not by those it excludes. ASU pursues research
that contributes to the public good, and ASU assumes major
responsibility for the economic, social and cultural vitality of
the communities that surround it.
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/20151109006876/en/
American Campus Communities, Inc.Gina Cowart, 512-732-1000Media
RelationsorArizona State UniversityMeenah Rincon,
480-727-3116herminia.rincon@asu.edu
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