Corvias Campus Living Partners With Gilbane Building
- Oct 05, 2015
East Greenwich, R.I.—Corvias Campus Living, a division of Corvias Group, is partnering with Gilbane Building Co. to develop to student housing. Under the terms of the agreement, Gilbane will provide construction services for various Corvias Campus Living projects on college and university campuses nationwide.
Gilbane is an experienced contractor when it comes to educational development.
According to Kurt Ehlers, managing director of Rhode Island-based Corvias, Gilbane has built about $13 billion worth of higher education projects and is currently working on 55 college campuses in 40 states. “Aligning with a construction company of this caliber will allow us to scale faster to meet the growing demand for student housing,” he noted.
Building Design + Construction puts Gilbane was ranked as the nation’s seventh largest contractor in the higher education market and the fourth largest builder. In addition, the company was named the nation’s #4 Green Contractor by Engineering News Record.
Ehlers added that there has been increased interest in Corvias’ partnership model following the company’s selection 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. The partnership marks the first time a public university system has privatized a portfolio of campuses.
The reasoning behind the move was to explore student housing partnerships to maintain a competitive stock of student housing. According to Corvias, 60 percent of the nation’s student housing is more than 25 years old and many colleges and universities don’t have the financial resources necessary for capital improvements.