A leader in the collegiate housing industry since 1964, EdR is one of the largest developers, owners and managers of high-quality collegiate housing communities.
EdR is a self-administered and self-managed real estate investment trust (REIT) publicly traded on the New York Stock Exchange (NYSE: EDR). As a REIT, we create and own properties that will bring value to our portfolio and stockholders for a long time. Our projects are built to last and to be profitable for many years to come.
Formerly known as Education Realty Trust and, before that Allen & O’Hara, EdR set every standard for the collegiate housing industry for almost a half-century. Our deep understanding of our ever-evolving customer stimulates a constant stream of innovations and improvements, along with a portfolio of impressive developments across the United States.
Fast forward to today: EdR is again setting the pace with the nation’s largest on-campus housing revitalization program at the University of Kentucky. Innovations continue in other areas including financing to make on-campus developments more viable for universities and construction to make our buildings more sustainable, energy-saving and maintainable.
EdR’s experienced and respected teams provide impressive facilities and valuable services to our customers — universities, residents (students, faculty and staff families) and owners. EdR is known for innovative solutions, financing and design as well as quality, long-lasting construction, sustainable buildings and successful management programs for our communities. With the experience of our rich history along with our creative, innovative team members and our deep financial capacity, EdR really is the very best in collegiate housing.
HISTORY The predecessor of EdR was founded in 1952. A simple construction company, Allen & O’Hara soon became one of the nation’s most successful developers when they began working with another company founded in Memphis that same year, Holiday Inn.
The company soon expanded and, in 1964, introduced the “student hotel concept” to the market and, thus, created the student housing industry.
That first “privatized” student housing development was Granville Towers — a 1,300 bed high-rise on the campus of the University of North Carolina in Chapel Hill. EdR still manages it today for the UNC Foundation. In 2014, we will celebrate our 50th Anniversary there. Not many companies can keep a satisfied client for 50 years! Read more about our award-winning multi-million dollar renovation at Granville Towers.
- EdR began as Allen Bros. Construction Co. in 1952. We soon became Allen & O’Hara and built Holiday Inns and other hotels and office buildings across America.
- In 1964, Allen & O’Hara introduced the “student hotel” concept and the four-person suite with the historic Granville Towers at the University of North Carolina. It was the first privatized housing facility at a public university.
- One year later, we introduced individual leasing — a cornerstone of our industry.
- In 1970 we took student housing co-ed.
- We assumed the management of the Northwestern Mutual Life Insurance Co. portfolio of 16,000 student housing beds in 1971 and retained that client until they sold their portfolio 27 years later in 1998.
- In 2012, after operating for years with the dual identities of Education Realty Trust and Allen & O’Hara, we adopted one name, EdR.
INNOVATIONS EdR has led the student housing industry through the years with many “firsts” and industry-leading innovations:
- First food-service contract for collegiate housing
- First to accept credit cards for rent payment Introduced the “dine anytime” concept so students could eat whenever convenient
- First to co-market off-campus facilities with university residence halls
- First proprietary, computerized accounts receivable and revenue management system<
- In 2000, the first bond-financed property and signed contracts for the first public-private partnership development in the California State University system and the Pennsylvania State System of Higher Education.
- In 2009, EdR created both The ONE PlanSM and The ONE Plan PLUSSM – two new on-campus equity plans that allow colleges and universities to use EdR’s equity and financial stability to develop and revitalize campus housing while preserving their funds and debt capacity for other projects.
- In 2011, EdR was selected by the University of Kentucky to design, construct, finance and manage the largest on-campus revitalization development to-date. The $500 million, multi-phase project will systematically build and demolish 6,000 on-campus beds and increase UK’s on-campus beds to approximately 9,000 creating a state-of-the-art living-learning environment for this progressive campus. Each phase of the multi-year development has been delivered on time and future phases are on schedule.