Back in the 1950's, a student-housing surge began when the baby boomers started college. High rises with shared bathrooms; bedrooms and cafeteria-style dining halls were quickly built to keep up with demand.
Now, many of these older structures are poorly maintained and out of date. According to a recent survey by the Rosen Group, only 1 in 4 students can be housed on campus in many of the growing markets around the country. In addition to that, incoming students who aren't familiar with having to share a room, due to fewer siblings, aren't happy with their living arrangements. Most parents aren't either.
Students are unlikely to live on campus after their freshman year, unless they are provided such options as an apartment or private rooms similar to off-campus housing. Kitchens, private bathrooms, study lounges, and social spaces used to be considered luxuries. Now they're considered necessities. Thus the demand for better student housing.
Mike Hartnett and Ted Rollins were classmates at Duke business school and have worked together on and off over the last 24 years. In 2004, Mike and Ted founded Campus Crest Communities. They had a vision to develop the best "Fully Loaded" student housing properties in the industry. Today, there are 33 operating properties and 6 under development for delivery in fall 2012.