Drexel University-American Campus Communities Partnership Yields Numerous Honors for Chestnut Square Development
November 17 2015 - 9:59AM
Business Wire
American Campus Communities, Inc. (NYSE:ACC), the largest owner,
manager and developer of high-quality student housing properties in
the U.S., was recently presented with two awards from the National
Association of Home Builders (NAHB) honoring Chestnut Square, a
student housing community on the campus of Drexel University in
Philadelphia, PA.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20151117006252/en/
Chestnut Square was named the 2015 Best Mixed-Use Community and
the 2015 Best Student Housing Rental Apartment Community as a part
of the prestigious Pillars of the Industry Awards distributed by
NAHB. As stated on the NAHB website, the Pillars awards are held in
high esteem by top-level multifamily development companies,
management firms and experts in the field. The annual competition
is judged by a jury of knowledgeable peers, each having a proven
record of success in various facets of the apartment and condo
industry.
“Our partnership with Drexel University has yielded three
award-winning student housing communities,” said Bill Bayless,
President and CEO of ACC. “That success is a testament to President
Fry’s unparalleled vision for student housing at the University and
our shared, unrelenting commitment to student success.”
The Drexel University-American Campus Communities partnership
came together as a part of President John Fry’s vision to create a
vibrant gateway to Drexel and University City with the development
of Chestnut Square. The 861-bed development has been recognized on
several platforms for its national excellence:
- 2015 NAHB Pillars of the Industry -
Best Student Housing Apartment Community of the Year
- 2015 NAHB Pillars of the Industry -
Best Mixed-Use Community of the Year
- 2015 Multifamily Executive Award -
Project of the Year: Student Housing
- Urban Land Institute-Philadelphia Rouse
Award for Excellence
- 2015 Student Housing Business Innovator
Award - Best New Development
- 2015 Student Housing Business Innovator
Award - Best Architecture/Design
- 2014 Student Housing Business Innovator
Award - Best Implementation of Mixed-Use in New Development or
Renovation
“Chestnut Square helped transform our campus and our
neighborhood, and it richly deserves these accolades,” said John A.
Fry, Drexel’s president. “American Campus Communities develops and
runs great buildings, including three at Drexel, and our
partnership with American Campus has allowed us to focus on
academic priorities and leave infrastructure investments and
challenges to the experts.”
The Drexel University-American Campus partnership includes three
projects that expand the University housing capacity by
approximately 3,200 beds—including Chestnut Square, The Summit at
University City and University Crossings. All projects were funded
by American Campus Communities as a part of their American Campus
Equity (ACE®) program, which provides universities with the option
to develop or sell student housing while preserving their debt
capacity to fund core infrastructure.
The Summit at University City and University Crossings have also
been acknowledged, The Summit being recognized with the
Philadelphia Business Journal’s 2015 Heavy Hitters of Real Estate
Award, and University Crossings with the 2015 Student Housing
Business Innovator Award—Most Creative Public-Private Partnership,
On-campus.
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 National Association of Home Builders
The National Association of Home Builders is a Washington-based
trade association representing more than 140,000 members involved
in home building, remodeling, multifamily construction, property
management, subcontracting, design, housing finance, building
product manufacturing and other aspects of residential and light
commercial construction. NAHB is affiliated with 800 state and
local home builders associations around the country.
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/20151117006252/en/
American Campus Communities, Inc.Gina Cowart, 512-732-1000Public
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