Notre Dame, Corvias Partner to Provide Married and Parenting Student Housing

Corvias has been selected for a public-private partnership (P3) with the
University of Notre Dame to design, build, finance, operate and maintain
(DBFOM) married and parenting family-focused housing. The partnership
will allow the University to offer a cost effective housing option
meeting the needs of married and parenting students and their families.

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Corvias will be providing new construction, operation and maintenance for new graduate married and parenting family-focused housing at the University of Notre Dame. (Graphic: Business Wire)

“We know there is a growing need for housing that also addresses the
needs of graduate and family students across the nation,” said John
Picerne, Corvias Founder. “By providing these new residences, we’re
helping Notre Dame address their need by using innovative financing
approaches and resources to provide efficiencies and economies to the
University which in-turn benefits the students beyond housing.”

The project will be delivered by August 2020, with rental rates and
maximum increases negotiated as part of the contract to optimize student
affordability. Notre Dame receives operational ownership of the asset in
like-new conditions at the end of the 40-year term.

“This partnership allows us to provide an innovative housing option to a
vulnerable student population,” says Erin Hoffmann Harding, Vice
President for Student Affairs at Notre Dame. “Not only are we solving a
need for safe, convenient and affordable housing for our current and
prospective students, but this new facility will create natural
opportunities for students with families to form community with one
another. We are also delighted that the University’s Family Resource
Center will be co-located in the Beichner Community Center adjacent to
the housing complex.”

The partnership team is an Indiana-based team of industry experts to
deliver Notre Dame’s objectives and world-class living learning
communities. The full P3 team includes Corvias (Private Partner
providing financing, development, and operations services), HighlineUS
(Project Consultant), Spalding Design Group (Architect), DJ Construction
(General Contractor), and Holland & Knight (Legal Counsel).

About The University of Notre Dame

Founded in 1842, the University of Notre Dame is the nation’s leading
Catholic research university, providing a distinctive voice in higher
education that is at once rigorously intellectual, unapologetically
moral in orientation, and firmly embracing of a service ethos. Rated
among the top 20 of all U.S. institutions of higher learning, Notre Dame
ranks second nationally in the percentage of students who study abroad
and has seen research funding increase from $87 million to $141.5
million in the past decade. The University is organized into four
undergraduate colleges — Arts and Letters, Science, Engineering, and the
Mendoza College of Business — the School of Architecture, the Keough
School of Global Affairs, the Law School and the Graduate School. It is
located adjacent to the city of South Bend, Indiana, in a region with a
population of more than 300,000, and is widely known for the beauty of
its campus, including the Golden Dome of the Main Building, the world’s
most recognized university landmark.

About Corvias

As a privately-owned company headquartered in East Greenwich, RI,
Corvias partners with higher education and government institutions
nationwide to solve their most essential systemic problems and create
long-term, sustainable value through our unique approach to partnership.
Corvias pursues the kinds of partnerships that materially and
sustainably improve the quality of life for the people who call our
communities home, purposefully choosing to partner with organizations
who share our values and whose mission is to serve as the foundational
blocks, or pillars, of our nation. To learn more, please visit: www.corvias.com.

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