Military life is full of sacrifices — from the stresses of deployment to frequent moves. Our service members and their families deserve to live in quality homes with communal spaces that foster a true sense of home.
At Corvias, we’re with you for the long haul. For 20 years, Corvias has been a partner to the U.S. Military under the Department of Defense’s Military Housing Privatization Initiative (MHPI) program.
Our typical engagements are around 50 years. That long-term commitment means we deeply understand your problems — and are fully invested in their solutions.
Investing in Our Military Partners
We tailor our services and solutions to fit your current — and future — needs. Corvias services are an investment in your military housing and military families. We understand modern military families and provide the services and amenities they need.
For our nine military partnerships, Corvias has cleared a 30-year maintenance backlog, created family-focused communities, and enhanced the quality of life for military families.
Our services include:
- Privatized military housing, including housing for single and unaccompanied service members
- Ongoing property management
- Renovation of existing military housing
- Design and construction of new military housing
- Creation of community spaces, including parks, fitness centers, community centers and more on base
- Financing solutions, including equity financing and debt financing through taxable and tax-exempt bonds
- Energy management solutions
Our Military Installations
We care for nearly 22,000 homes across seven military installations in six states. Modern military families have unique needs. Corvias focuses on meeting those needs and answering requests promptly. We work hard to earn military families’ trust every day.See how Corvias is continuously improving our military communities.
Problem: Repairing and maintaining aging and outdated facilities
Many Army facilities are more than 50 years old and not well-suited for modern military families. Maintaining this housing stock takes significant investment.
Solution: Invest in modernization solutions to address infrastructure needs now
Corvias plans for these investments through our asset management program. With asset management, we reinvest in your facilities, providing ongoing renovation throughout the life of the asset. In this way, we return assets at the end of our partnership in serviceable condition.
Each partnership includes a reinvestment account that allows us to build or renovate homes throughout the life of the partnership. To fast track a backlog of renovations, Corvias unveiled its plan in 2019 to unlock $325 million in investment for modernizing Army housing. This investment allows Corvias to tackle the challenge of needed infrastructure modernization without additional cost to the Army.
Implementation begins with assessing the homes, then upgrading the most challenged assets first. This will lead to an estimated $300 million in savings over 30 years thanks to greater efficiencies. Efficiencies will come from upgrading critical existing infrastructure, including technology that allows for more proactive housing maintenance and energy conservation.
Creating Value for Our 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. For our military partners, that’s a projected $7 billion over the life of our partnership.
Other benefits to our partners include:
- Innovative funding sources to address needs and additional programs
- Close management of revenue and expenses
- Enhanced marketability of the asset for the future
- Unlocking additional funds to use as needed
- Exceptional customer service and actively listening to what residents want
- Subcontracting to small, local businesses for greater community investment
Returned to Our Military Partners
Work Orders With Average 97% On-Time Completion Rate
for Army Modernization Improvements
From Our Partners
I admit that I had profound doubts about the probability of success. However, believe me, the results were wildly beyond any of my expectations. What I learned was Corvias had not only the motivation to care for our Army families, but they also exhibited strong expertise in business processes, planning, leadership, and management. Their experience and approach enabled them to meet or exceed the goals and aims of the partnership as well as the expectations of Army families."
Our Military Installation Projects
Corvias was selected as the private partner in the US Army’s initial pilot program to privatize residential communities at Fort Meade, as well as the partner at Aberdeen Proving Ground (APG), the last of the Army’s privatized installations.
As Corvias prepared to close on the Fort Sill Partnership, the global financial crisis of 2008 negatively impacted market conditions, resulting in a near freeze of all real-estate transactions whether planned or unplanned.
Just one month after Corvias assumed responsibility of approximately 4,000 homes in its public-private partnership with the US Army at Fort Riley, the 1st Infantry Division returned to the installation after being headquartered in Germany for more than 10 years.