Just four years into the partnership between Corvias and the US Army at Fort Bragg, Randolph Pointe was created as a 312-unit apartment community and has since become an integral part of the Fort Bragg community. It was extremely important that this development balance the feel of living in a market rate property for the Fayetteville community with the pride and convenience of being on the installation. Corvias delicately created a culture within the Randolph Pointe area that welcomes a diverse population of leaders focused on a critical mission along with amenities and features that recognize their high-stress and high-standard positions. After establishing Randolph Pointe as a critical component to senior-service member satisfaction, the Army agreed that there was a demand for a second phase, resulting in an additional 120 apartments in 2014.
Prior to Randolph Pointe, Fort Bragg’s single and unaccompanied senior non-commissioned officers (NCOs) and officers had no on-post housing options and were forced to live off base. This group of young military leaders was under-served and could benefit from living in convenient proximity to their workplaces, training facilities, and the service members under their responsibility. Through this partnership and the development of Randolph Pointe, Corvias has helped to resolve the deficit of adequate housing available to this critical population while supporting troop morale, readiness, and retention.
To date, Corvias has subcontracted 74% of the work to small and local businesses. The surrounding Fort Bragg local economy has continued to grow with the addition of new jobs. As a testament to Corvias’ commitment to providing our residents the highest quality service, Randolph Pointe recently scored first out of all unaccompanied personnel housing projects assessed in the Army’s 2015 Resident Survey.
Housing and Amenities
The Randolph Pointe community provides residents with larger living areas, plentiful storage, spacious bedrooms, group gatherings, and a variety of other functions. All of this is available to residents, only steps away from where they work. In addition to high-quality housing, the community includes shared amenities in a centrally located 6,500-SF clubhouse. Here, residents can workout, check email, and submit maintenance requests. Indoor amenities include a multipurpose room, fully equipped weight lifting and cardio rooms, locker rooms, a lounge with a flat-screen television and kitchen, business center, and staff offices. Outdoor amenities include a swimming pool with lap lanes, basketball and sand volleyball courts, and outdoor grilling areas. These amenities, along with our on-site operations and maintenance team, are available to all residents of Randolph Pointe.
O&M and Lifecycle Maintenance
The Corvias Maintenance Plan for Randolph Pointe begins with a high-quality standard in providing a superior product and follows through to the delivery of exceptional service. Maintenance staff from family housing is scheduled as support for after-hours emergency maintenance service and all maintenance employees are familiar with the project. In addition, the Maintenance staff coordinates all apartment turnovers. Corvias ensures that service members receive personalized service, resident familiarity, and localized understanding of the community. Corvias employs emergency-maintenance technicians 24/7 who are available nights, weekends and holidays to respond to all maintenance requests, allowing Corvias to react swiftly to maintenance, urgent, and emergency requests. As a result, Corvias has received rave reviews from Randolph Pointe residents. The community’s occupancy is an impressive 89%.
- Duration: 43 years, 2007-2053
- Capital Raise: $46 million
- Financing Structure: Taxable Bonds
- Placement Agent: Jeffries LLC
- Program size: 432 units/702 beds, 494,400 gross square feet, 34 acres
- Initial Development Scope: $47 million in capital improvements
- Long-term Development Scope: $205 million in planned replacement/renovation of all housing
- Total Local Economic Impact: $529 million
- Total Projected to be Returned to Partnership: $141.8 million
- Develop and construct new apartment-style housing
- Community Center offer spaces for relaxation, fitness, and collaboration; it also serves as an office area for maintenance personnel
- Provide day-to-day maintenance, operations, and long-term repair for on-base housing