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|Campus Crest Communities Partners with the Horatio Alger Association|
CHARLOTTE, N.C., Mar 10, 2011 (BUSINESS WIRE) -- Campus Crest Communities, Inc. (the "Company") (NYSE: CCG), a leading developer, builder, owner and manager of high-quality student housing, today announced that it will continue its partnership with the Horatio Alger Association, an organization devoted to honoring the achievements of outstanding individuals in society who have succeeded in spite of adversity and encouraging young people to pursue their dreams through higher education. 2011 marks the sixth consecutive year the organizations have partnered to provide housing scholarships to students who have exhibited integrity and perseverance in overcoming personal adversity.
Ted Rollins, co-founder and CEO, and Mike Hartnett, co-founder and Chief Investment Officer of Campus Crest Communities commented: "We're excited to extend our relationship with an organization that shares the same desire and passion to help our nation's youth realize their aspirations and succeed in all their endeavors. The Horatio Alger Association has provided us with a way to leverage our success as a student housing operator to give back to the communities in which we operate and help make a difference in the lives of others."
As part of its commitment to the partnership, Campus Crest will continue to award up to three four-year housing scholarships at each of its locations to students who receive a Horatio Alger scholarship. The Company, which operates 27 student housing properties in 11 states, currently has 21 scholarship recipients living at its facilities, representing approximately $126,000 worth of award money. During the upcoming 2011-2012 academic year, Campus Crest will house 27 scholarship recipients. The Company indicated that it has the potential to house additional scholarship students at its seven new communities currently under construction.
"We are grateful to Association Member, Carl H. Ricker, Jr. along with Ted Rollins and Mike Hartnett at Campus Crest Communities for their continuing commitment and support of Horatio Alger Scholars. The Association is pleased to be able to offer this opportunity to Horatio Alger Scholars who attend a college or university near the Campus Crest property locations," said Terrence J. Giroux, Executive Director of the Horatio Alger Association.
Over the past three years, Campus Crest has provided 57 students with housing scholarships through the Horatio Alger Association. The partnership represents the Company's commitment to partnering with organizations that will allow it to use its success in the student housing industry to help others.
About Campus Crest Communities, Inc.
Campus Crest Communities, Inc. (NYSE: CCG) is a leading owner, developer and manager of high-quality student housing properties located in targeted U.S. markets. The Company is a self-managed, self-administered and vertically-integrated real estate investment trust which operates all of its properties under The Grove(R) brand. Campus Crest Communities owns interests in 27 student housing properties containing approximately 5,048 apartment units and 13,580 beds. Since its inception, the Company has focused on customer service, privacy, on-site amenities and other lifestyle considerations to provide college students with a higher standard of living. Additional information can be found on the Company's website at www.campuscrest.com.
About the Horatio Alger Association:
Founded in 1947, the Horatio Alger Association of Distinguished Americans continues to fulfill its mission of honoring the achievements of outstanding individuals in our society who have succeeded in spite of adversity and of encouraging young people to pursue their dreams through higher education. The Horatio Alger Association offers three annual scholarship programs: the National Scholarship Program, state scholarship programs, and graduate grants. Since 1984, the association has awarded over $70 million in college scholarships to deserving young people. The association is a Combined Federal Campaign participant; # 77062. For more information, please visit www.horatioalger.org.
SOURCE: Campus Crest Communities, Inc.