Company that manages AU dorms files for Chapter 11

AUGUSTA, Ga. (WRDW/WAGT) – The company that manages Augusta University’s dorms is filing for Chapter 11 bankruptcy.

“Corvias Campus Living – USG” runs student housing at AU and several other state schools in Georgia.

It says it has worked for years to make its partnership viable with the University System of Georgia.

But now the company says it needs to file for Chapter 11 bankruptcy to restructure the deal.

The company made headlines in 2023 when a pipe break delayed students from moving into Oak Hall and a year earlier when mold was found in Oak Hall and neighboring Elm Hall.

Despite those snags, it says students rely on the company “to deliver an exceptional student housing experience.”

It said in a statement that it “remains committed to delivering an award-winning housing experience for students throughout the process.”

Corvias also handles some military housing, although not at Fort Gordon. In Georgia, it has contracts at nine of the state’s higher education institutions.

The company claims the student housing program is not sustainable because things have changed a lot since it won the contracts.

It blames a number of factors, including COVID, higher costs, and lower revenue and student occupancy than expected.

It claims it has “gone above and beyond its contractual requirements – even forgoing its management fee for all but two months over the past five years.”

While the process moves forward, the company says it plans to “provide the same high-quality operations and maintenance services” and meet its obligations to employees, vendors and others by utilizing cash on hand, subject to approval as part of the process.

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