Corvias Enters 40-Year P3 with Wayne State University to Execute $300M Housing Master Plan

by Katie Sloan

Detroit — Corvias has entered into a 40-year, public-private partnership with Wayne State University to execute a $300 million housing master plan at the university’s campus in Detroit.

The master plan includes the delivery of 842 new beds and the renovation of 3,100 existing beds, alongside the demolition of the Helen L. DeRoy apartments for conversion into open green space. All 842 of the new beds will be located in the Anthony Wayne Drive Apartments building, and will open in two phases beginning in fall 2018. The Anthony Wayne project will also be home to 18,000 square feet of retail space and a 9,000-square-foot Campus Health Center.

During the first 10 years of the project, $185 million will be spent to construct, renovate and replace existing housing. This capital will allow for all of the residence halls to be improved. The program will also allow Wayne State to nullify $102 million in debt.

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