Subjects: LIC, JVN
COCM selected as Management Partner for Upcoming Housing Project at Appalachian State University
Capstone On-Campus Management (COCM), a distinguished leader in on-campus housing management, is pleased to announce its selection as the management partner for the upcoming on-campus employee housing project at Appalachian State University ("App State").
BOONE, N.C., Nov. 28, 2023 /PRNewswire-PRWeb/ -- Capstone On-Campus Management (COCM), a distinguished leader in on-campus housing management, is pleased to announce its selection as the management partner for the upcoming on-campus employee housing project at Appalachian State University ("App State"). This transformative initiative is a result of a public-private partnership ("P3") ledby Radnor Property Group, a real estate development company specializing in on-campus and higher education projects, and Harrison Street, a prominent investment management firm with a focus on alternative real assets and $56 billion in assets under management.
Under this joint venture partnership, Radnor, and Harrison Street will develop and finance App State's inaugural on-campus employee housing project. Comprising five multi-story buildings with 156 purpose-built housing units, the development is scheduled for occupancy in the Fall of 2025. The unique 501(c)(3) ownership structure used for the financing aims to enhance affordability for the residents.
Situated within App State's Innovation District, this project aligns with the University's commitment to growth and addresses the pressing housing needs of its employees amid regional housing scarcity and cost inflation. By establishing a community of quality, attainably priced housing, the initiative will play a crucial role in attracting and retaining exceptional faculty and staff. This project is a significant component of the larger first phase of the Innovation District, anticipated to be carbon and net zero. It will exemplify sustainable energy solutions, contributing to App State's national reputation as a leader in the renewable energy space.
Will Davenport, Chief Operating Officer of COCM, expressed enthusiasm about the partnership, stating, "This partnership is a terrific opportunity to bring an affordable, high-quality housing option to its faculty and staff. We look forward to broadening our network of university partnerships with Radnor and Harrison Street."
As the management partner for this groundbreaking project, COCM is excited to contribute to the success of App State's Innovation District, fostering a vibrant and sustainable community for faculty, staff, and students alike.
About COCM: COCM is a company of talented student housing professionals focused on providing management and consulting services for on-campus housing communities. Their student housing professionals focus on helping their partners leverage campus housing to do greater things: recruit and retain students as well as enhance student success and satisfaction. Based in Birmingham, AL, they were recently recognized as the leading provider of on-campus, third-party management services by Student Housing Business magazine. The Lafayette partnership increases COCM's current portfolio to reflect serving 33,420 students at 38 campuses across the United States. For more information, visit cocm.com.
Media Contact
Alton C. Irwin, COCM, 205-414-6417, [email protected], www.cocm.com
SOURCE COCM
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