The Life of a Brand: Todd
In 2014, Asset Campus Housing, along with Collegiate Development Group and Kayne Anderson Real Estate Advisors, engaged Threshold to create a brand for their new development in Columbia, Mo. The community would serve students attending the University of Missouri and other nearby colleges.
In the Columbia market, Threshold found many purpose-built student housing communities offering a wide range of locations and amenity packages. The market was also full of communities featuring the typical university- or college-themed names that are typical of student housing marketing nationwide.
This new community would be different.
During the research phase, Threshold uncovered a term, “transit-oriented development (TOD),” which sparked a brand idea. In development terms, a TOD is an intentional mixing of land use and transit through the creation of compact, walkable, mixed-use communities that are within walking distance of a transit stop or other key points of interest.
With that, TODD was born.
- Lease up time of 2 months
- Waiting list began before many in the market reached 50%.
- Renewals pre-leased TODD to 100% for Fall 2016 before winter break.
- By December 2015, TODD was 100% preleased for the second year, achieving more than 5% rate increase year-over-year
Effective student housing marketing has allowed the property to outperform the purpose-built student market in rate growth and occupancy.
Why TODD Works
The term lent itself to a great story. It also resonated with the community that was being built because of the new community’s close proximity to the university, to Greek Town, and to downtown Columbia.
Threshold wrote the brand story, or playbook, for the staff to embrace and live the brand. The name alone wasn’t enough for this. TODD had to be clearly defined and articulated to help everyone understand how to live the brand.
Today’s college students are inundated with student housing marketing messages every day. Millennials are drawn toward unique brands they can relate to. They want to be introduced to a brand but not have the brand define too much for them. They want to discover on their own.
“It’s important for us to have a partner like Threshold work on this brand development. From concept to final delivery, the innovation and forward-thinking approach really helped set the community apart from all others. Our on-site team was able to live the TODD brand and create a marketing plan that resulted in two very successful lease-ups.
- Joe Goodwin, Senior Vice President for Asset Campus Housing
“Threshold helped us and our partners find a compelling name and brand position in a competitive market. We achieved our occupancy goals quickly, and our branding played a significant role in our property’s success.”
- Alex Candia, Kayne Anderson