Cary, N.C. — Corvias Campus Living has partnered with Providence, Rhode Island-based Gilbane Building Co., who will provide construction services for some of Corvias’s on-campus student housing projects nationwide.
According to a news release, 60 percent of the nation’s student housing is more than 25 years old and many colleges and universities do not have the financial resources necessary for capital improvements. Institutions such as the University System of Georgia have contracted with Corvias to provide modern on-campus student housing.
Corvias was selected by the Board of Regents of the University System of Georgia for a $548 million student housing partnership to develop 3,753 beds and manage 6,195 beds for nine campuses across Georgia for the next 65 years. This partnership is the first time a public university system has privatized a portfolio of campuses.
“Gilbane has built approximately $13 billion worth of higher education projects and is currently working on 55 college campuses in approximately 40 states,” says Kurt Ehlers, managing director of Corvias. “Aligning with a construction company of their caliber will allow Corvias to scale faster to meet the growing demand for our innovative student housing partnership model.”