Multi-year plan to define investment strategy for maintaining 10,000 buildings on seven Army posts nationwide, totaling 30 million square feet of housing space
Guilford, Conn. – February 6, 2014 – Sightlines, a leader in helping academic institutions better manage their facilities and capital investment strategies, today announced that it has signed a consulting agreement with Corvias Group to re-evaluate the long-term capital needed to renovate and maintain high quality Army family housing at seven of the 13 military installations managed by Corvias Military Living, a Corvias subsidiary.
“Over the past 14 years, we have worked hand-in-hand with the Army to solve some of their toughest housing challenges, fundamentally reshaping perceptions about what housing for our service members should be and significantly improving quality of living for thousands of service members and their families,” said John Picerne, president and chief executive officer of Corvias Group. “Now that the initial construction and renovation phase has been completed at many of the Army installations in our portfolio, however, we thought it would be a good time to re-validate our long-term asset management plans.”
According to David Kadamus, president of Sightlines, the unique project is the first such engagement for Sightlines outside of the academic institutions market. It will involve an in-depth assessment of each type of building under management by Corvias – including historic houses, single-family houses, multi-tenant buildings, apartment buildings and common facilities – and result in a final plan that will shape Corvias’ facilities investment strategy for the next several decades. The scope of properties included in the Sightlines project consists of 10,000 buildings that collectively total 30 million square feet of space, located on seven Army bases across the nation.
“After more than a decade of partnership with the Army, we now have a fundamentally better understanding of both their short and long-term housing needs,” said Picerne. “We look forward to working with Sightlines to re-validate our long-term asset management plans and ensure our ability to provide our service members and their families with a high quality of life for decades to come.”
“We’re honored to partner with Corvias in order to support the development of premier military housing for service members and military families who sacrifice so much in service to our country,” said Kadamus. “This is a breakthrough project for our company as it gives us an opportunity to leverage the expertise we’ve cultivated over the past 13 years serving college and university campuses and put it to use on military bases, where the similarities are actually quite significant. We’re confident that the end result of this project will be a clear, multi-year strategy for Corvias Group that helps them better optimize investment resources, target key repair and upgrade needs, and sustain the quality of housing across their impressive portfolio of buildings.”
Sightlines professionals began their preliminary analysis in November and they’re already on the ground at several Corvias installations, conducting in-depth assessments of the facilities. The project is expected to conclude in March 2014.