As the CEO of American Campus Communities, Bill Bayless oversees a university housing development company that is publicly valued at $7.5 billion and provides housing to approximately 130,000 students.
But, as company spokeswoman Gina Cowart put it, Bayless' ambitions are much simpler than being an industry titan.
"Let's be honest—Bayless just never wanted to leave college," she said.
ACC has been headquartered in the Hill Country Galleria in Bee Cave since 2010.[/caption]
Bayless, who said he worked as a resident assistant in college, started ACC in 1993 with four employees. The company, which has been headquartered at the Hill Country Galleria since 2010, now employs approximately 3,000 people throughout the country.
In Austin, ACC is the developer behind the Callaway House Austin, the full-service freshman residence hall at 505 W. 22nd St. ACC also owns the Castilian, the Texan and the Vintage in Austin.
Bayless said a development's appeal to both students and their parents is the primary factor for the company's success.
"This is about a lot more than just real estate," Bayless said. "What we try to do is create learning [and] living environments that are conducive to educational achievement. But since this is where [students'] memories are made, we make sure it's the whole social, educational and recreational experience under one roof."
Bayless said his company builds residence halls with varying price points to promote affordability.[/caption]
Bayless said when he got his undergraduate business degree, the common knowledge at the time stated that investing in student housing was a poor decision because students pay no rent, have no loyalty and tear the place up.
"No one understood that mom and dad, who are really the money behind going to college in most cases, want quality products and quality services and are willing to pay for them," he said. "This is especially true if mom and dad believe that living here, instead of an absentee landlord home, provides a better environment."
Bayless said he is proud ACC developments offer different price points to make housing more affordable for students. For example, the total cost for a freshman to live at the Callaway House Austin ranges from $11,980 to $16,910 for the 2015-16 school year.
"We're built for the masses, not the classes," Bayless said. "We offer different unit types, so no matter what a persons' socioeconomics are, they can afford to live here and all share the same amenities."
ACC has been headquartered in the Hill Country Galleria in Bee Cave since 2010.[/caption]
Bayless, who said he worked as a resident assistant in college, started ACC in 1993 with four employees. The company, which has been headquartered at the Hill Country Galleria since 2010, now employs approximately 3,000 people throughout the country.
In Austin, ACC is the developer behind the Callaway House Austin, the full-service freshman residence hall at 505 W. 22nd St. ACC also owns the Castilian, the Texan and the Vintage in Austin.
Bayless said a development's appeal to both students and their parents is the primary factor for the company's success.
"This is about a lot more than just real estate," Bayless said. "What we try to do is create learning [and] living environments that are conducive to educational achievement. But since this is where [students'] memories are made, we make sure it's the whole social, educational and recreational experience under one roof."
Bayless said his company builds residence halls with varying price points to promote affordability.[/caption]
Bayless said when he got his undergraduate business degree, the common knowledge at the time stated that investing in student housing was a poor decision because students pay no rent, have no loyalty and tear the place up.
"No one understood that mom and dad, who are really the money behind going to college in most cases, want quality products and quality services and are willing to pay for them," he said. "This is especially true if mom and dad believe that living here, instead of an absentee landlord home, provides a better environment."
Bayless said he is proud ACC developments offer different price points to make housing more affordable for students. For example, the total cost for a freshman to live at the Callaway House Austin ranges from $11,980 to $16,910 for the 2015-16 school year.
"We're built for the masses, not the classes," Bayless said. "We offer different unit types, so no matter what a persons' socioeconomics are, they can afford to live here and all share the same amenities."
