About

Collegiate Housing Foundation is a non-profit tax exempt organization established in 1996 for the sole purpose of assisting colleges and universities in acquiring or developing student housing facilities. Founded in and still based in Fairhope, Alabama, the Foundation pioneered the financing of student housing facilities by a third party non-profit thereby giving it extensive experience and a national profile in the student housing space.

 

Collegiate Housing Foundation is fortunate to have an active Board of Directors with vast experience in higher education and public finance that meets regularly to review and discuss all of the Foundations projects and other affairs.

History

Collegiate Housing Foundation is a non-profit 501(c)(3) tax exempt organization established in 1996 for the sole purpose of assisting colleges and universities in acquiring or developing student housing facilities. To date, it has undertaken to own, finance, construct and operate 52 student housing facilities of almost 28,000 beds in 24 different states for 39 different schools for total project costs exceeding $1.8 billion. While its primary focus is and has always been student housing, its mission has expanded to include owning and financing other kinds of campus facilities and to incorporate limited retail space into those facilities.

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Qualifications

Collegiate Housing Foundation is the first national 501(c)(3) organization dedicated to assisting colleges and universities with the financing and acquisition of new student housing facilities. With its long track record and established reputation, it is uniquely qualified to work with colleges and universities. Its qualifications include:

  • A singular focus on student housing that provides assurance to the schools it serves that it will be dedicated to that purpose and that purpose only.
  • Extensive experience in working through the issues that typically arise in student housing financings which has earned it a reputation among developers, trustees, underwriters, credit enhancers, rating agencies and other service providers typically involved in a project for being flexible and dedicated to finding solutions to any such issues that arise.
  • The only national student housing non-profit whose 501(c)(3) status and methods of operation have been specifically affirmed by the IRS thereby protecting the Foundation and the schools it serves from the risk of its financings being declared taxable.
  • An experienced executive staff and active Board of Directors with wide experience in the higher education field that meets regularly to review and discuss all of the Foundation’s affairs.
  • Dedicated consultants experienced in non-profit student housing projects by virtue of having supported the Foundation’s operations since its inception that include its legal counsel (Hand Arendall), auditor (Wilkins Miller), and insurance consultant (Pentarisk).
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Using CHF has been great because housing is all they do – versus our own Foundation, which has a completely different mission.

Mona Adams, Assistant Treasurer, University of Delaware

Higher Education Background

In addition to over two decades of working with colleges and universities across the United States, the Foundation's Board of Directors is widely experienced in the higher education field.

Legal Expertise

The Foundation was founded and is guided by experienced bond lawyers whose legal expertise is essential in meeting all the requirements of financing a project with tax exempt municipal bonds.

Verified by IRS

The IRS has reviewed and specifically approved the Foundation's 501(c)(3) status. Other organizations may try to emulate the Foundation, but they cannot have the same level of assurance of the validity of their 501(c)(3) status.

Project Approach

The hallmark of the Foundation’s operational model and the most critical factor in its ability to help make a project a success is maintaining a close working relationship with the school for which it owns a project. To that end, the Foundation commits itself to involving schools in (i) the design and construction of a new project, (ii) the selection of any third party developers, bankers or managers, (iii) the negotiation of the terms of the financing, acquisition and development of a project and (iv) any material decisions related to the ongoing operations of a project. Further, the Foundation insists that all the financial benefits of a project flow back to the school for no additional consideration, including all surplus revenues and title to the project at the end of the financing.

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Illinois State University’s first public-private project for student housing has been a great success. We believe the key to that success was choosing the right partners for the transaction. CHF has proven to be just that – a partner with us in achieving our need to provide attractive and affordable housing for our students. From the beginning, we felt that our goals also became their goals.

Greg Alt, Vice President for Finance and Planning, Illinois State University

Leadership Team

Board of Directors

Collegiate Housing Foundation is fortunate to have an active Board of Directors with vast experience in higher education and public finance that meets regularly to review and discuss all of the Foundations projects and other affairs.

Collegiate Housing Foundation is fortunate to have an active Board of Directors with vast experience in higher education and public finance that meets regularly to review and discuss all of the Foundation's projects and other affairs.

About_CoveyDirector and Chairman of the Board, 1998-Present
  • Vice President for Finance, Spring Hill College, 1990-1997
  • Director of Fiscal Affairs, City of Mobile, 1977-1990

Executive Staff

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Collegiate Housing Foundation's reputation as the premier non-profit student housing provider is supported by the long tenure and experience of its executive staff most of whom have worked for or with the Foundation from its inception.

About_People_CoveyPresident, 1998-Present
  • Vice President for Finance, Spring Hill College, 1990-1997
  • Director of Fiscal Affairs, City of Mobile, 1977-1990