At Corvias, we understand the competition you face to attract and retain students — and the role campus housing plays in students’ decisions.
That’s why we nurture long-lasting partnerships. Our willingness to commit for the long haul means we are fully invested in crafting solutions for your challenges — including high energy utilities management costs — so your housing helps you remain competitive for decades to come.
We’ll guide you through multiple renovations — at no additional cost to you — so your property is returned fully modernized and functional.
Investing in Our Higher Education Partners
Our approach allows you to maintain ownership of your assets and receive residual cash flows, while offloading operations.
We tailor our services and solutions to fit your future needs, along with your immediate ones.
Our services include:
- Design, construction and renovation of new and existing student housing, including on-campus hotels and housing for students who are married and have families
- Energy management solutions, including reviewing campus utility billing rates for cost-saving opportunities
- Ongoing property management
- Customized financing solutions that keep student housing affordable while achieving project scope
- Creation of a reinvestment reserve to fund future renovations and unforeseen expenses
Responding to COVID-19
As schools look toward re-opening, Corvias is coordinating with our higher education partners to ensure they can implement their campus reopening and continuity plans.
For instance, many of our partners are implementing:
- Enhanced cleaning protocols
- Planning for contact tracing
- Coordinating affected students’ move into isolation spaces
- Closing common areas and amenities as necessary
We will continue to provide updates through multiple digital channels to keep our residents aware of changing operational procedures or service offerings. You can read more on our response to COVID-19.
Our Higher Education Campuses
We provide services for 15 colleges in 6 states across the U.S and the District of Columbia.
- Howard University Higher Education
- Georgia State University Higher Education
- Abraham Baldwin Agricultural College Higher Education
- Augusta University Higher Education
- College of Coastal Georgia Higher Education
- Columbus State University Higher Education
- Dalton State College Higher Education
- East Georgia State College Higher Education
- Georgia Southern University Higher Education
- North Carolina Central University Higher Education
- The University of Notre Dame Higher Education
- University of North Georgia Higher Education
- University System of Georgia Higher Education
- Wayne State University Higher Education
- Alabama College of Osteopathic Medicine Higher Education
- Purdue University Higher Education
Problem: Aging infrastructure combined with lack of funding
More than 60% of higher ed campuses have facilities that are more than 25 years old. Many have a maintenance back log valued at $100 per gross square foot. In addition, they must convince students to come to the university and live on campus — despite outdated facilities and housing and no funds to repair them.
Solution: Unlock funding that gets continually reinvested for future improvements
The Corvias approach plans for short- and- long-term growth needs without issuing new school debt. Our financial approach can deliver solutions such as non-recourse debt with off balance sheet treatment and likely positive credit impact.
For example, Corvias and Wayne State University partnered in 2017. The goal: to deliver a solution to defease $102 million of Wayne State's debt and address a $38 million deferred maintenance issue.
Corvias was able to deliver $151 million in residential construction for the University through an off-balance sheet transaction. This, in turn, allowed Wayne State to leverage capital for other critical needs.
Creating Value for Our Higher Ed Partners
We challenge ourselves to add value to our partners. A large part of our added value is the money we reinvest in our partners to use for future renovations to existing student housing and facilities.
Other benefits to our approach include:
- Innovative funding sources — tailored to each project — to address needs and additional programs
- Close management of revenue and expenses
- Control remains in your hands for key decisions about students and your physical assets through our joint governance approach, while you offload operations management
- Enhanced marketability of the asset for the future
- Subcontracting to small and minority-owned businesses for greater community investment
Subcontracted to Small and Minority-Owned Businesses
On-Time Completion Rate of Service Orders
Spent Annually to Maintain and Renovate Higher Education Assets
From Our Partners
In my 30 years of working with campuses, I have witnessed many proposals come and go that bring third-party funding to support campus operations and to strengthen balance sheets …. Many have had some success …. But, nearly all, due to their narrow focus on short-term issues, have not had a meaningful impact for the campus.
The Corvias Approach is different. It is a broader more holistic approach that forges a meaningful partnership for the campus housing assets between the university and Corvias …. Their demonstrated success with housing is impressive."
Our Higher Education Projects
Dalton State College’s is a rural campus in Northwest Georgia andit is set to transition from a two-year commuter campus to a four-year academic college.
Georgia State University (GSU) is centered in the historic financial hub of downtown Atlanta, providing more than 50,000 students with unsurpassed connections to the city’s business, government, nonprofit and cultural organizations.
The Corvias partnership with Howard University, one of the largest and most highly respected of the Historically Black Colleges and Universities (HBCUs) in the country was initiated, created, and finalized in 13 months.