Student Housing Pioneers
try was doing quite well before it received its fame, thanks to a handful
of early pioneers. Here’s a look at some of the now-household names that
helped to establish the modern student housing industry, and bring the
sector into the spotlight.
By Natalie Dolce, Miriam Lamey and Rayna Katz
DAVID J. ADELMAN
Under David Adelman, Campus
Apartments’ revenue has grown by
300% over the past five years. As president and CEO, he has added dozens
of properties to the company’s portfolio. In response to the growing
demand for retail and office space in
university communities, Adelman has
added the development of mixed-use
on-campus projects to the company’s
repertoire. And as the trend toward
ownership and investment opportunities expands, he has steered the company toward condominium
development. Adelman’s strength lies in his ability to structure
deals and establish relationships with financial institutions, as seen
in Campus Apartments’ recent $1.1-billion venture with GIC Real
Estate Pte Ltd, the real estate investment arm of the Government of
Singapore Investment Corp. Adelman is the vice chair of University
City District Board of Directors, president of the Apartment
Association of Greater Philadelphia and a board member of
Hyperion Bank and the National Multi Family Council.
WILLIAM C. BAYLESS JR.
Bill Bayless began his student housing
career in 1984 with Allen & O’Hara,
where he held the positions of resident
assistant, resident manager and area marketing coordinator. Today, he’s considered one the nation’s foremost experts
on student housing. As president and
CEO, he is a co-founder of American
Campus Communities and serves as its
board of directors. ACC is one of the largest developers and managers of private
student housing in the US. In 2004, ACC became the first student
housing REIT to be publicly traded. Prior to assuming the role of
CEO in 2003, Bayless served as the firm’s COO, where he directed
all of the company’s business segments. From 1993 until July 1995,
he served as vice president of development. Prior to the formation
of ACC, he was the director of operations for Century Development’s
student housing division and as the director of marketing for the
student housing division of Cardinal Industries.
PAUL O. BOWER
Paul Bower was Education Realty Trust’s
chief executive officer and president until
his retirement in 2009. He still serves as
chairman of the board of directors—a
position he’s held since July 2004. Bower
holds the Certified Property Manager designation conferred by the Institute of Real
Estate Management and is a member of
the Memphis Board of Realtors and the
Association of College and University
Housing Officers International. He’s also
on the board of directors of Youth Villages,
a national nonprofit organization dedicated to helping emotionally and behaviorally troubled children and their families. He
joined Allen & O’Hara Inc. in 1969, holding a variety of positions
until he was promoted to senior vice president of the student housing group of Allen & O’Hara’s management services department
in 1977. Twenty-two years later, Bower became CEO and president
of the company.
ROBERT D. BRONSTEIN
Co-founder of the Scion Group, Robert Bronstein has more
than 13 years of experience in consulting, financing and/or
development of student housing facilities. Since 1999, he has
led the firm’s growth from its original two employees to one of
