Crawford Hoying Announces Big Plans for WSU Housing, Lowers Costs

The Woods | Photo by Grace Ramsdell | The Wright State Guardian

Dylan Collison and Katie Chrosniak contributed to this story.

Dublin, Ohio-based Crawford Hoying has big plans for Wright State University (WSU)’s Residence Life and Housing. The commercial real estate company has taken over most of the student housing serving WSU, with modernization plans affecting various residence halls and apartment communities.

Crawford Hoying plans to invest millions into WSU housing as the company takes over management. Plans for housing communities may include new fitness areas, an outdoor swimming pool and more open living areas, according to a university press release.

“We’re excited about Wright State’s long-term vision, and we feel there’s an opportunity to make small changes in the student housing that will make large impacts on students’ lives,” Mike Landrum. Crawford Hoying’s executive vice president of property management said in a recent press release. 

Background

WSU’s on-campus housing construction began in the 1970s. Hamilton Hall was the first residence hall built in 1970 and remained the only residence hall on campus for several years. The hall initially housed 322 students. The university acquired the Forest Lane community later that decade.

By the end of the 1970s, WSU constructed 13 major buildings on campus—with Hamilton Hall being the only residence hall.

Throughout the 1980s and 1990s, WSU constructed the Woods Halls and on-campus apartments to keep up with the increasing demands for housing options. The Honors Community is the most recently constructed residence hall, completed in the fall of 2002.

As of 2021, WSU offers 29 different living options between residence halls and on-campus apartments. 

AM Management owned and maintained the majority of the housing facilities on WSU’s campus, with an operating agreement established in September 2006.

The contract between the university and AM Management has been extended several times since the initial signing and was set to end in June 2021. As of Dec 30, 2020, ownership of these properties was transferred from AM Management to Crawford Hoying.

Crawford Hoying is founded by Brent Crawford and former Ohio State quarterback Bob Hoying. The company has invested densely in the Columbus and Dayton markets, managing over eight million square feet of multifamily and commercial properties. According to Landrum, the company’s roots are in student housing, and it has always enjoyed its interactions with student populations.

“We had owned a similar type of property at Ohio State, off-campus called Olentangy Commons, and we owned that for a number of years, said Principal Bob Hoying. “A lot of similarities to [Wright State], and what was a little bit older, needed some attention, and we invested a considerable amount of money back into Olentangy Commons and really brought it back to life and. So, when we started looking at the opportunity at Wright State—a lot of it felt very familiar to us.”

Development and Price Changes

Landrum said Wright State offers various housing options that provide a particular framework for the refresh that Crawford Hoying has planned.

“We’ll be updating and upgrading the existing buildings to better resonate with the students,” Landrum said. “Our plan is to modernize the current student housing options, beginning with the shared common spaces and amenities in each building.” Changes include free laundry in all communities and a new outdoor fitness trail.

According to Hoying, the first steps will be more uncomplicated physical repairs to the exterior asphalt and concrete, landscaping improvements, power washing and interior painting. Next will come interior lobbies and lounge refreshes, cabinets, flooring and exterior painting.

“We’re most excited about a Clubhouse addition that will feature a fitness area and an expansive outdoor swimming pool,” Landrum said.

Though subject to change, the planned location for the Clubhouse is near the current leasing office, adjacent to the Village Apartments and Woods Halls. According to Hoying, the plan is to work with Chartwells for a new dining hall for the facility and encourage general dining improvements university-wide.

According to Jessica Rexer, senior vice president of marketing and communications, the planning and design of the Clubhouse are currently underway. Once the design of the Clubhouse and the list of amenities is finalized, Crawford Hoying will share additional details, images and information.

Through the public-private partnership, the company is focused on improving student involvement at the university. According to Hoying, living on campus is the experience when attending university.

“[Housing] is a way to attract students, and I don’t think that’s necessarily the case at Wright State currently. That's the opportunity for us. We want to make improvements; we want to invest money to provide amenities to update units so that students want to live on campus again,” Hoying said.

“They understand the competitive landscape and know there has to be a level of amenity and service provided to maximize occupancy. They have a plan to freshen up the housing and make it exciting, said Gregory Sample, executive vice president and chief operating officer at Wright State.

The company, with approval from the Board of Trustees, seeks to lower housing rates dramatically. Rates will be decreased for some of both WSU and Crawford-Hoying-owned facilities. According to the university, the rate changes will affect all current housing cohorts.

“We want to be competitive with everything else on Zink Road that's market rate and off-campus. We want to get people living back on-campus. ‘See all the amenities; all the changes; and, the investment,’” Hoying said.

Proposed Housing Rates

Purchase

According to Greene County mortgage records, Crawford Hoying purchased the properties through various Limited Liability Companies (LLCs) for $32,410,000, with a required down payment of $2 million to Wright-Patt Credit Union, who serves as the mortgagor.

LLCs—sometimes known as shell companies—are conventional among real estate corporations, typically used to protect buyer interests or organize subsidiaries for tax purposes.

Wright State has used subsidiaries such as the Double Bowler Properties Corp. to acquire and develop various properties near the university’s two campuses.

The Wright State Guardian discovered the acquisition in March through regular review of university’s property records, as provided by the Greene County Auditor’s Office.

The purpose of the deal was initially unknown, and AM Management, Wright State University and Crawford Hoying initially delayed responding to comments on the sale of the properties. At the time of publication, AM Management has still yet to comment on the exchange.

The magnitude of the transaction is not one of insignificance—requiring both acknowledgment and consent of Wright State and the State of Ohio’s Department of Administrative Services due to the university operating current leases on the properties. According to the university, the operating agreement between Crawford Hoying and the institution is still in the works.

According to Sample, the business contract will assure that the university is fully compensated for the residential support services it provides.

“The Crawford Hoying team understands revenues from the student housing operation must cover all costs, including university expenses,” Sample said. “What’s exciting about their approach is they’re looking to make investments while also exploring opportunities to lower housing rates for the upcoming fall.”

With a total of 3,250 beds on campus, Crawford Hoying will operate nearly 2,700 beds under this agreement—or over 80% of the university’s housing operations.

The transaction also includes empty Forest Lane subdivision properties from 6058 through 6061 Forest Lane, adjacent to the Chi Alpha Campus Ministries house and the Cimarron Woods Apartments campus access path. According to Rexer, for the time being, Crawford Hoying’s primary focus is the management of the student housing buildings at Wright State University. No plans have been released for these parcels.

Next Steps, Timeline

According to Hoying, planning for the Clubhouse will continue the rest of the spring and into the summer, with construction beginning in the fall of 2021. Though the precise open date is yet to be determined, it is anticipated that the building will be completed by next spring. 

Landrum and Hoying have both described the renovations and new construction to be in the “millions and millions of dollars.”

“The relationship between Crawford Hoying and Wright State holds great opportunity. The key to success is working from a common shared vision,” Sample said. “They see the student as the primary customer and are focused on positioning the Wright State student housing portfolio to be the preferred choice for students living on or near campus.”

According to Hoying, the real estate company is here “for the long haul,” and he is unsure if the improvements “are ever gonna stop.”

“Customer service is always top of mind, and we hope that the students feel our support each and every day,” Landrum said. “In addition to the amazing service we provide, we’re committed to offering excellent facilities and modern amenities to the students who truly deserve them.”

More information regarding housing changes can be found at wright.edu/housing or by calling 937-775-4172.