Campus Crest Accepts Department of Energy’s Better Buildings Challenge

-Commits to reducing energy consumption across its portfolio by 20 percent through 2023 -

- Continues to demonstrate leadership in sustainable building among student housing industry -

Campus Crest Communities, Inc. (“Campus Crest” or the “Company”) (NYSE:CCG) today announced its participation in the U.S. Department of Energy’s (DOE) Better Buildings Challenge, an initiative that brings together corporations, universities and municipalities to make significant commitments to energy efficiency and waste reduction in their facilities. Campus Crest has committed to reduce energy consumption across its student housing portfolio by 20 percent or more over 10 years.

On Dec. 3, the DOE and the Department of Housing and Urban Development (HUD) expanded the Better Buildings Challenge to include the multifamily residential sector. This expansion is part of President Obama's Climate Action Plan, which was announced in June and recognizes the role that increased efficiency can play in reducing energy use and carbon pollution from this sector.

“At Campus Crest we believe in a balanced approach to business – balancing economics with environmental and social stewardship,” said Ted W. Rollins, chairman and chief executive officer of Campus Crest Communities. “The Better Buildings Challenge is a great way for us to participate on a national level with the U.S. Department of Energy and help lead a transformation in the multifamily industry towards greater energy efficiency.”

As a participant in the Better Buildings Challenge, Campus Crest will showcase strategies to boost energy efficiency and implement a portfolio-wide plan to achieve lasting energy savings, including lighting improvements, water efficient landscaping and indoor water efficiency, heating and cooling system upgrades, installation of energy efficient appliances and equipping buildings for solar energy installations.

The Better Buildings Challenge aligns with Campus Crest’s NEXT initiative, a business approach that balances economic success with social and environmental stewardship. To promote building innovation, a key component of the initiative, Campus Crest proactively partnered with Colorado State University’s Institute for the Built Environment to incorporate energy efficient design and operations across its portfolio. In 2012, the Company partnered with SolarCity to install more than 9,000 solar panels on three of its student housing communities.

About Campus Crest Communities, Inc.

Campus Crest Communities, Inc. is a leading developer, builder, owner and manager of high-quality student housing properties located close to college campuses in targeted markets. Pro forma for the Copper Beech restructure, the Company has ownership interests in 82 student housing properties and over ~44,000 beds across North America, of which 74 are operating and 8 are development or redevelopment properties. The Company is an equity REIT that differentiates itself through its vertical integration and consistent branding across the portfolio through three unique brands targeting different segments of the college student population. The Grove® brand offers more traditional apartment floor plans and focuses on customer service, privacy, on-site amenities and a proprietary residence life program. The Copper Beech brand and townhome product offers more residential-type living to students looking for a larger floor plan with a front door and back porch. The evo brand provides urban students with a luxury student housing option with all the conveniences of city living. Additional information can be found on the Company's website at http://www.campuscrest.com/.

InvestorsThomas Nielsen, 704-496-2571Investor.Relations@CampusCrest.comorMediaHayley Cook, 203-682-8254Hayley.Cook@icrinc.com

Lehman Abs Mbna Capa (NYSE:CCG)
Historical Stock Chart
From May 2024 to Jun 2024