Additional Upgrades Include 900 Roof Replacements

Corvias, a long-term solutions and management partner to the U.S. military, has completed a large-scale effort to install energy-efficient upgrades to nearly all Fort Meade homes to continue to enhance the living experience for military families on behalf of its Meade Communities partnership with the Army. The more than 142,000 improvements at Fort Meade were made possible as a result of Corvias’ $325 million Solutions Investment, a first-of-its-kind direct equity investment into an established military housing partnership.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220602005615/en/

Corvias team member installs a new energy-efficient HVAC system as part of the $325 million Solutions Investment by Corvias to enable energy resilience and modernization across six U.S. Army installations. (Photo: Business Wire)

“Our community will benefit from these enhancements for many years to come,” said Peter Sims, managing director for Corvias. “We have upgraded homes with the best technology available. As a result, we estimate future utility savings of $240 million across installations, which will be reinvested back into our military communities to benefit our residents.”

Corvias is leading the energy conservation upgrades in conjunction with Johnson Controls, a global leader in smart, healthy and sustainable buildings. The Fort Meade upgrades include:

• Water conservation measures, including more than 6,000 low-flow toilets; 8,000 bathroom faucet aerators; 2,600 kitchen faucet aerators; and 4,800 shower heads. All incorporate modern technology that reduces water usage and utility costs.
• Approximately 112,000 energy-efficient lighting and fixture upgrades, providing each family with a more attractive and resourceful home.
• More than 1,200 HVAC split systems, which are more reliable, efficient, and long-lasting to help families enjoy more cost-efficient and comfortable housing.
• More than 2,600 “smart" thermostats, which monitor temperature and building humidity.
• Roughly 1,200 weatherization improvements, including insulation, weather stripping, and energy-efficient windows.
• Approximately 2,600 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.

The Corvias’ Solutions Investment also includes the renovation of 120 homes in the Heritage Park, Potomac Place, and Patriot Ridge neighborhoods at Fort Meade. This work will include upgrades to kitchens, bathrooms and flooring. As a result of this investment, service members and their families will continue to enjoy newly updated and constructed housing, while Corvias’ partnership with the Army will benefit through reducing the cost of maintaining its older housing inventory.

In addition to the housing upgrades at Fort Meade, the $325 million Solutions Investment will benefit more than 70%, or approximately 16,000, of Corvias-managed homes across Fort Sill, Okla., Fort Riley, Kan., Aberdeen Proving Ground, Md., 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 back into the military communities to fund additional improvements. Once completed, the 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 Solutions Investment for its Department of Defense portfolio to fund strategic modernization and resiliency improvements to its U.S. Army base housing infrastructure.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220602005615/en/