The student housing development company reaches 10-year milestone, built on a 30-year foundation, and reflects on its growth and continuing role as a leader in the P3 higher-ed campus housing and related real estate development market sector.
Birmingham, AL –
Capstone Development Partners (“Capstone” or “CDP”), a leader in campus and student housing development in partnership with colleges and universities, celebrates its 10-year anniversary this month as a successor company to Capstone Development Corp (“CDC”).
Capstone is owned by Principals Bruce McKee and Jeff Jones, and is the successor to CDC, which was founded in 1990 by Michael Mouron. Over the past decade, CDP has carried forward CDC’s leadership in partnering with colleges and universities throughout the U.S. to assist in the development of student housing and other campus facilities. Since Capstone’s formation in December 2011, the company has partnered with 16 colleges and universities, delivering 12,000 beds of student housing with a total development value of $1.3 Billion, bringing the total productivity of the Capstone team to 71,300 beds and $4 Billion in development cost since 1990. The company’s notable projects developed since 2011 include partnerships with Arizona State University, Cornish College of the Arts, San Diego State University, Seattle University, University of Chicago, University of Massachusetts Boston, University of Southern Maine, University of South Florida, and the University of Washington, Bothell.
“2011 seems like yesterday!” said Bruce McKee, CDP Principal. “Jeff and I are so proud to be a part of the Capstone legacy. It is humbling and inspiring to be a leader at a company that is filled with people who are incredibly passionate about what they do, believe in our mission and values, and who have an unwavering focus on being their best, and doing the right thing for our partners, our projects and our student residents.”
As further evidence of its success, the company has added two related business lines and more than quadrupled its development staff. In February of 2020, to provide better service to its college and university partners in the western half of the U.S., CDP opened an office in Denver, CO. The Denver office now complements the company’s founding location in Birmingham, AL that serves clients in the eastern half of the U.S. Additionally, the company has added in-house facilities maintenance and asset management through its subsidiary, Capstone Management Partners and Capstone Asset Management; and more recently added interior furniture sourcing and procurement through its subsidiary, Capstone Interiors.
Recently the company has hired key personnel for both the Denver and Birmingham offices, including Yvette Tetreault, VP Development Management; Patrick Parsons, Director of Finance; Abigail Mata’afa, Development Associate; and Peter Wolnski, Construction Manager.
Nicole I. Warren
Director of Marketing
Tel: (205) 949-5052
402 Office Park Drive, Suite 199
Birmingham, AL 35223