Drexel University

Over the last decade, American Campus Communities and Drexel University’s partnership has added housing capacity for more than 4,000 students. ACC’s innovative, holistic development and redevelopment strategy has reinvigorated the University City neighborhood near campus with vibrant commercial venues along with modern student housing communities.
 

Creating an Urban Academic Neighborhood

Our partnership began in 2010 when Drexel selected ACC to develop a small, narrow site into a community that would entice students back to living near campus and evoke a contemporary urban academic environment. In Fall 2013, ACC delivered Chestnut Square, a mixed-use residential project that transformed Chestnut Street by combining a lively retail streetscape with student residences. ACC has now delivered five phases of student housing to Drexel, which   together maximize density on small sites, repurpose existing facilities and connect the campus to the surrounding community.
 

Flexible Financing 

ACC’s flexible public-private partnership transaction structures enabled Drexel to meet its financial goals for project. ACC served as developer and construction manager for all communities. ACC owns and operates Chestnut Square, the Summit at University City and University Crossings, each financed with American Campus Equity (ACE), while Drexel funded and operates Bentley Hall and Kelly Hall.
 

• Chestnut Square: 861-bed apartment/townhome community with retail delivered in 2013
• Summit at University City: 1,315-bed apartment community with retail and dining delivered in 2015
• University Crossings: Acquisition of 1,016-bed, 1920s-era apartment community in 2008, later conveyed to Drexel in 2013 and renovated/expanded to include retail in 2015
• Bentley Hall: Redevelopment of 406-bed residence hall and addition of engineering college honors program and administrative offices, phases opened in 2019 and 2020
• Kelly Hall: Redevelopment/expansion of 410-bed, 1960s-era residence hall delivered in 2023