![]() At the start of the USG partnership, Corvias’ maintenance teams got to work right away on each of the nine campuses, including CSU’s existing 444 beds, which were transferred to Corvias’ management. To Corvias, building the CSU community means open communication and support throughout our operations and maintenance (O&M) program. Our partnership with CSU goes beyond building a new housing complex. In return for these investments, the community of Columbus, GA will see an estimated return of $260.8 million in economic impact, over the life of the partnership. Furthermore, the USG portfolio supports a lasting and quality student housing solution through established Capital Repair and Replacement (CR&R) reserves that renovates or replaces all housing in the partnership at least five times.Īt CSU, the new development and revitalization has incurred almost $20 million in expenditures to date, and will incur $76.5 million in total development costs, while operating on $1.2 million annually. Corvias was able to defease $311.5 million in long-term debt from USG’s balance sheet. The overall USG partnership financing consisted of $548.3 million in taxable bonds, through Goldman Sachs, and $13.1 million in Corvias equity. ![]() Staff reported they have never seen students use the space as much as they did that year. Prior to students moving in, Corvias also updated an on-campus community area that was historically underutilized. The use of aluminum and glass storefront window walls for daylighting enhances the student’s visual connection to the outdoors. The new 540-bed, student housing complex, Clearview Hall (Clearview), was constructed atop a hill that overlooks CSU’s main campus. Partnership ScopeĬSU is one of nine universities as part of the unprecedented, 40-year Public Private Partnership (P3) with the University System of Georgia (USG) and Corvias to develop, construct, renovate, manage, and maintain new and existing student housing and community buildings on the main campus. ![]() Corvias designed and built a freshmen housing community with 540 new beds at Columbus State University (CSU) and assumed operations for 444 existing beds in existing campus facilities.
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