EAST GREENWICH – Corvias Group will make a $325 million investment into military housing, the company announced this week.
The announcement provided details of the investment noted by John Picerne, founder of Corvias, to Congress following reports of substandard conditions at military housing managed by multiple companies.
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The investment, the company said, is an effort to modernize military housing infrastructure and to increase housing resiliency. The funds will be used to build new homes, renovate homes, weatherproof homes, install energy upgrades and to increase water resiliency, among other things.
“We have been working on this investment plan for more than 18 months, long recognizing that significant revitalization is necessary to provide high-quality military housing, and increased interest and visibility proved that we are on the right track. The failed status quo – repairing and maintaining aging and outdated facilities – must be replaced by innovation and modernization,” Picerne said.
Corvias said the upgrades will impact more than 16,000 homes at Fort Meade and Aberdeen Proving Ground, both in Maryland; Fort Sill in Oklahoma; Fort Bragg in North Carolina; Fort Riley in Kansas; Fort Polk in Louisiana; and Fort Rucker in Alabama.
The company said the investment was planned in partnership with the U.S. Department of Defense prior to incidents the company was cited for at Fort Bragg and Fort Meade.
Corvias said that 54% of the homes it maintains for the military were built between 1880 and 1980. The investments are part of planning to preempt ageing infrastructure problems by the DOD and Corvias to get ahead of repairs as they come, as opposed to fixing problems after they arise.
“This investment will enable us to make better use of data-driven technologies and services to improve the customer experience, inform predictive maintenance and monitoring, drive greater business efficiencies, and improve the resiliency and sustainability of both our homes and the utility infrastructure that services them,” Picerne said.
The company said it will conduct an assessment of buildings to identify its most-challenged properties and prioritize their upgrade first.
The upgrades include energy-management services, including renewable energy, and will bring homes up to “the highest energy standard available.”
The company said the investment comes at zero cost to the government and will save an estimated $300 million in costs over 30 years.
Correction: The investment is not a new investment but is a more descriptive plan of the investment Picerne described before Congress.
