Corvias Invests $8M into Aberdeen Proving Ground Homes
ABERDEEN, Md.--(BUSINESS WIRE)--Dec 15, 2022--
In support of the Department of Defense’s goal to enhance the resilience of federal infrastructure, Corvias, a long-term solutions and management partner to the U.S. military, has installed more than 13,000 water and energy saving devices in approximately 200 Aberdeen Proving Ground homes through its partnership with the U.S. Army. These enhancements will reduce energy consumption while continuing to improve the living experience for military families. The water and energy-conservation improvements are part of Corvias’ first-of-its-kind direct equity investment of $325 million across its Army housing portfolio.
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The $325M Corvias investment includes $4 million in water and energy-conservation improvements. Updates incorporated more than 600 low-flow toilets, 950 bathroom-faucet aerators, 200 kitchen-faucet aerators and 400 shower heads; more than 10,000 energy-efficient lighting and fixture upgrades; 200 “smart” thermostats; and more than 700 water meters, which use the most up-to-date tools to ensure accurate measurement of water consumption and precise usage reports. (Photo: Business Wire)
“We expect these immediate changes will make a big impact,” said Peter Sims, managing director for Corvias. “In the long-term, we expect utility savings to be approximately $240 million, which we will reinvest toward additional community improvements to continue improving on-post living.”
Corvias’ construction arm is leading the water and energy-conservation upgrades in conjunction with Johnson Controls, a global leader in smart, healthy, and sustainable buildings. The housing upgrades at Aberdeen Proving Ground include:
- Water conservation measures, including more than 600 low-flow toilets, 950 bathroom-faucet aerators, 200 kitchen-faucet aerators and 400 shower heads. All incorporate modern technology that significantly reduces water usage.
- More than 10,000 energy-efficient lighting and fixture upgrades, providing each family with a more attractive and comfortable home.
- Approximately 200 “smart” thermostats that monitor temperature and building humidity.
- More than 700 water meters, which use the most up-to-date tools to ensure accurate measurement of water consumption and precise usage reports. In addition, the technology provides early detection of water leaks or reverse flow.
Corvias’ investment will also result in more than $4 million in repairs to approximately 70 decks and stairs in the Patriot Village community and the replacement of more than 100 roofs. In addition, nearly 50 historic homes in Plum Point will receive new doors and energy-efficient windows. The development plan also included the demolition of 140 townhouses in Skipper’s Point in anticipation of the Army taking back control of the land for use as green space in November 2021.
In addition to the housing upgrades at Aberdeen Proving Ground, the $325 million investment is benefitting more than 70%, or approximately 16,000, of Corvias-managed homes across Fort Meade, Md., Fort Sill, Okla., Fort Riley, Kan., Fort Bragg, N.C., and Fort Rucker, Ala. The changes are anticipated to save an estimated $240 million over 30 years, allowing Corvias to reinvest those savings into the military communities to fund additional improvements. Once completed, the water and energy conservation measures will yield an average annual utility savings of approximately 16 percent of Corvias’ Army portfolio-wide utility-related operating expenses.
About Corvias and the Military Housing Privatization Initiative
Corvias is a partner to the U.S. Army as part of the U.S. Department of Defense Military Housing Privatization Initiative (MHPI) to revitalize, operate and maintain on-base military family housing. MHPI has enabled renovations, new construction and water and energy-saving initiatives, including the largest solar project in Kansas, located at the Fort Riley military housing community, which is part of Corvias’ partnership with the Army. In 2019, Corvias developed a $325 million investment for its Department of Defense portfolio to fund strategic modernization and resiliency improvements to its U.S. Army base housing infrastructure.
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KEYWORD: UNITED STATES NORTH AMERICA MARYLAND
INDUSTRY KEYWORD: DEFENSE MILITARY RESIDENTIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY CONTRACTS
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PUB: 12/15/2022 11:09 AM/DISC: 12/15/2022 11:09 AM