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Corvias Renovates 480 on-Base Houses at North Carolina Military Base

April 3, 2019

GOLDSBORO, N.C.--(BUSINESS WIRE)--Apr 3, 2019--Corvias, a partner to the U.S. military for the construction and management of on-base housing, nears completion of renovating 480 homes at Seymour Johnson Air Force Base. Renovations are expected to be completed this summer.

“We are in the final stretch of renovations with just 10 homes remaining,” said John G. Picerne, Founder and CEO of Corvias. “Together with the Air Force, as partners, we were able to be responsive to residents’ needs and the result is an extensive modernization program across the majority of homes on base.”

Specific renovations were determined based on residents’ and command input, informed by a conditions assessment of the homes, which on average are more than 20 years old. Residents have provided specific feedback in response, including:

  • “I love everything about living on base. It’s easy and I feel like the way everything is set up is perfect. I love it!” – Family of 4, Senior Airmen, current resident
  • “I love the housing community. The home is great, safe and great priced. Any issue I may have is rectified in a timely manner” – current resident
  • “I am quite pleased with the community and realize the benefit of good dependable on base housing” – current resident
  • “Maintenance team is very responsive, thanks! Great lifeguards and community pool, and play area” – current resident
  • “We love that lawn care is provided and how much base housing parks/sidewalks have improved over the last few years” – current resident

Improvements began in 2014 with minor renovations of paint, flooring and appliance upgrades to 330 homes, and major renovations that added 5,400 square feet of living space spread across multiple homes. Current renovations include converting carports to garages, installing fencing, and installing lighting, paint and appliance upgrades.

“Within the partnership between the Air Force and Corvias, there are dedicated reserve accounts for deferred maintenance and capital improvements, which are being used over the course of our partnership to upgrade all the homes at Seymour Johnson AFB,” added Picerne.

Corvias’ activity at Seymour Johnson AFB includes management of 686 homes, which supports an average of 65 direct annual jobs, generating $437 million in output and approximately $97 million in wages during the lifetime of operations. These activities will also generate approximately $11 million in total tax revenues for the state of North Carolina.

Enacted by Congress in 1996, the Military Housing Privatization Initiative (MHPI) leverages private-sector capital, as well as housing industry expertise in construction and management, to reverse the military’s housing deficiency by expanding and modernizing housing, with predictable, stable long-term operating costs and performance.

About Corvias

As a privately-owned company headquartered in East Greenwich, RI, Corvias partners with higher education and government institutions nationwide to solve their most essential systemic problems and create long-term, sustainable value through our unique approach to partnership. Corvias pursues the kinds of partnerships that materially and sustainably improve the quality of life for the people who call our communities home, purposefully choosing to partner with organizations who share our values and whose mission is to serve as the foundational blocks, or pillars, of our nation. To learn more, please visit: www.corvias.com

Note to Editors: Resident quotes are from surveys administered within the past six months; names are withheld for privacy purposes.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190403005696/en/

CONTACT: Kelly Douglas, Corvias

813-513-9650

kelly.douglas@corvias.com

KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA

INDUSTRY KEYWORD: DEFENSE OTHER DEFENSE CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE OTHER CONSTRUCTION & PROPERTY

SOURCE: Corvias

Copyright Business Wire 2019.

PUB: 04/03/2019 12:06 PM/DISC: 04/03/2019 12:06 PM

http://www.businesswire.com/news/home/20190403005696/en