California State University Board of Trustees | State of California Awards Facilities Contract to CORVIAS (September 2019)
California State University Board of Trustees | State of CaliforniaState · Long Beach, CA- Disclosed value
- Approximately $44,202,000 total development cost; $800,000 earnest money deposit; $250,000 non-reimbursable project fees
- From agenda
- Approved
- Sep 24, 2019
The 30-second brief
The CSU Board of Trustees authorized a public-private partnership with Corvias to develop and operate a Hilton Garden Inn-branded hotel on the CSU Northridge campus. Corvias will invest approximately $44 million under a 65-year ground sublease, paying revenue-based ground rent and returning the asset to the auxiliary at lease end. The project expands hospitality capacity and creates educational opportunities in tourism and hospitality management.
CORVIAS holds this facilities contract with California State University Board of Trustees | State of California. Its other public contracts on record include work for Abraham Baldwin Agricultural College and Albany State University.
Term as filed: 65-year ground sublease with option to extend 10 years by mutual agreement.
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Contract details
- Contract type
- Facilities
- Amount
- Approximately $44,202,000 total development cost; $800,000 earnest money deposit; $250,000 non-reimbursable project fees
- Document date
- September 24, 2019
- Term
- 65-year ground sublease with option to extend 10 years by mutual agreement
- Vendor
- CORVIAS
- Source document
- Joint Committees on Finance and Campus Planning Agenda September 2019 (Agenda)
CORVIAS's other public contracts
More California State University Board of Trustees | State of California contracts
Questions about this contract
Who was awarded the facilities contract by California State University Board of Trustees | State of California?
CORVIAS was awarded this facilities contract by California State University Board of Trustees | State of California, as recorded on September 24, 2019. The contract value is Approximately $44,202,000 total development cost; $800,000 earnest money deposit; $250,000 non-reimbursable project fees.
How much is the CORVIAS contract with California State University Board of Trustees | State of California worth?
The CORVIAS contract with California State University Board of Trustees | State of California is valued at Approximately $44,202,000 total development cost; $800,000 earnest money deposit; $250,000 non-reimbursable project fees, covering facilities work.
What type of contract is this?
This is a Facilities contract, documented as a agenda record.
Where was this contract approved?
This contract appears in Joint Committees on Finance and Campus Planning Agenda September 2019 (Agenda), dated September 24, 2019 from California State University Board of Trustees | State of California. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does CORVIAS hold?
CORVIAS may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is California State University Board of Trustees | State of California currently buying?
Explore California State University Board of Trustees | State of California's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.