Corvias Invests $92M to Improve Military Housing at Fort Polk U.S. Army Installation

Geothermal Upgrades Completed, Major Renovations Underway

FORT POLK, La.--(BUSINESS WIRE)--Corvias will deliver more than $92M worth of housing upgrades to U.S. Army military housing at Fort Polk by 2025 to continue to enhance the living experience for military families. Approximately 140 homes will undergo a complete home renovation, roughly 1,000 homes will benefit from exterior renovations and 153 homes already received geothermal heat pumps on behalf Corvias’ Polk Communities partnership with the U.S. Army.

Corvias recently completed a Phase I, $15M development plan at Fort Polk that repaired or replaced more than 2,300 roofs, painted approximately 1,000 homes and replaced nearly 1,000 gutters in the Dogwood Terrace and Maple Terrace neighborhoods. Fort Polk will benefit from an additional $77M investment by Corvias as part of Phase II of the project, which has already begun.

“The continued re-investment into our Fort Polk community remains a priority,” said Pete Sims, managing director at Corvias. “We believe that having a steady focus on investing in back-to-back development plans allows us to consistently improve the on-post housing experience and remain the top choice for housing when families receive a Permanent Change of Station to Fort Polk.”

In Phase II, 140 homes undergoing a renovation will receive updated kitchens that will feature new flooring, energy-efficient appliances, modern countertops, soft-close cabinets, under-cabinet lighting and new light fixtures. Corvias will renovate these Palmetto and Maple Terrace homes as they become available and final materials used in the renovations may vary based on availability.

The investment also includes the final 153 on-post homes that received new geothermal heat pumps, completing the 2019 effort to replace geothermal heat pumps in all Fort Polk homes. The savings from the energy-efficient geothermal heat pumps will be reinvested into Fort Polk housing for additional capital, home and roadway improvements.

The scope for this second phase of development work also includes demolishing more than 45 homes; renovating the exterior of nearly 1,000 homes, including exterior paint, trim and gutters; incorporating grading improvements to enhance drainage; and repairing carports on approximately 100 homes. These combined changes are part of the overall modernization of on-post housing.

Corvias’ 50-year partnership with Fort Polk is part of the Military Housing Privatization Initiative (MHPI), which leverages private-sector capital and expertise to reverse the military’s housing shortage. This is done by expanding and modernizing housing with predictable, stable, long-term operating costs and performance. Corvias’ partnership with Fort Polk includes the management of more than 3,600 homes, supporting an average of 732 direct annual jobs, and generating approximately $133M in total tax revenues for the state of Louisiana.

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 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.