8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington D.C., 20549

                                    Form 8-K

                                 Current Report
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

           Date Of Report (Date Of Earliest Event Reported): 3/17/2005

                        American Campus Communities, Inc.
             (Exact Name of Registrant as Specified in its Charter)

                        Commission File Number: 001-32265

              MD                                                  760753089
(State or Other Jurisdiction Of                                (I.R.S. Employer
Incorporation or Organization)                               Identification No.)

                         805 Las Cimas Parkway Suite 400
                                Austin, TX 78746
          (Address of Principal Executive Offices, Including Zip Code)

                                  512-732-1000
              (Registrant's Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
    (17CFR240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act(17CFR240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act(17CFR240.13e-4(c))
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                       Items to be Included in this Report

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Item 7.01.    Regulation FD Disclosure.

         On March 21, 2005, American Campus Communities, Inc. announced the
commencement of construction on the renovation of Fenn Tower, located on the
Cleveland State University Campus. American Campus Communities is providing
development and construction management services for the $38.4 million project
and fees for the project are expected to total approximately $1.5 million.

         This press release is furnished pursuant to Item 7.01 and shall not be
deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934
(the "Exchange Act"), or subject to the liabilities of that Section. The
information in this Current Report shall not be incorporated by reference in any
filing under the Securities Act of 1933 or the Exchange Act, except as shall be
expressly set forth by specific reference in such filing.

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                                  Signature(s)

      Pursuant to the Requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
Undersigned hereunto duly authorized.

                                               American Campus Communities, Inc.


                                           By: /s/ Mark J. Hager
                                               ---------------------------------
Date: March 21, 2005.                          Mark J. Hager
                                               Executive Vice President, Chief
                                               Financial and Accounting Officer
                                               and Treasurer


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                                  Exhibit Index

 Exhibit No.    Description
- ------------    -----------
   EX-99.1      Press Release Dated March 21, 2005

EX-99.1

                                                                    Exhibit 99.1

American Campus Communities Announces Third-Party Development Project
        for Historical Building at Cleveland State University

    AUSTIN, Texas--(BUSINESS WIRE)--March 21, 2005--American Campus
Communities Inc. (NYSE:ACC) today announced the commencement of
construction on the renovation of Fenn Tower, a historic 21-story high
rise, originally built in 1930 and located on the Cleveland State
University campus. American Campus Communities is providing
third-party development and construction management services for the
$38.4 million project. A tax-exempt bond issuance will fund the
student housing project.
    "Fenn Tower is a historic landmark in Cleveland," said Bill
Bayless, ACC chief executive officer. "American Campus is pleased to
have been chosen for this exciting redevelopment, which when completed
will provide high-quality on-campus housing while preserving the
historical value and cultural significance of such an important
structure."
    Fenn Tower was originally The National Town and Country Club built
in 1930 by architect George Post. It was acquired by Fenn College in
1937. Fenn College was eventually incorporated into the Cleveland
State University campus.
    The new 438-bed student residence will include fully furnished
single, double and quad suites, offering private and double bedroom
accommodations, in apartment style units with full kitchens. The
development will feature a student recreational center, banquet
ballrooms, a conference center, group study areas, a business office,
and student storage. American Campus will also manage the completed
community along with Viking Hall, the only other student residence at
Cleveland State University.
    The community is scheduled to open for occupancy in Fall 2006,
concurrent with the beginning of the 2006-2007 academic year.

    About American Campus Communities Inc.

    American Campus Communities Inc. is one of the largest publicly
traded REITs focused solely on student housing in the United States.
American Campus Communities is a fully integrated, self-managed and
self-administered equity REIT with expertise in the acquisition,
design, finance, development, construction management, and leasing and
management of student housing properties. The company owns and manages
23 high-quality student housing properties, containing approximately
14,600 beds. Including its owned properties, the company manages 42
student housing properties, representing 25,900 beds.

    Forward-Looking Statements

    This release contains forward-looking statements, which express
the current beliefs and expectations of management. Such statements
are based on current expectations and involve a number of known and
unknown risks and uncertainties that could cause our future results,
performance or achievements to differ significantly from the results,
performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements speak only as
of the date on which they are made, and we undertake no obligation to
update publicly or revise any forward-looking statement, whether as a
result of new information, future development or otherwise.

    For more information, please go to the company website at
www.americancampuscommunities.com.

    CONTACT: American Campus Communities Inc., Austin
             Mark Hager, 512-732-1000
              or
             Financial Relations Board
             Georganne Palffy, 312-640-6768