As Their Landlord Profits, Soldiers Battle Unsafe Army Homes
You’ll be surprised how even the tiniest glass fragments will be picked up by the bread. The moistened bread absorbs the stain. During an October visit to Meade, reporters saw some areas of handsome new and historic homes, but also others filled with eyesores and safety hazards. They accuse Picerne’s company of renting them poorly maintained homes riddled with health hazards that can trigger illness or childhood developmental delays. ’ light designed by Patricia, can all be filed under the ‘so wrong it’s right’ category. When light yellow, for puddings and biscuits. An eye-catching oversized antique light makes a statement in the dining area. In Ireland, the designer spent months procuring finishes such as petrol-blue damask silk wallpaper and a mix of Regency and William IV antique furniture for the drawing room of Picerne’s Capard House. In Picerne’s six-bedroom neo-Georgian brick house in Providence, the designer installed black-and-white marble floors. The profits have helped afford Picerne, 56, a yacht, private jet travel, and mansions renovated by celebrity decorator Martyn Lawrence Bullard, known for his work with the Kardashian family and fashion designer Tommy Hilfiger.
Bullard also redecorated a $6 million Rhode Island beach home across Narragansett Bay from Newport, where Picerne docks his 49-foot Italian-made yacht, the Under My Skin. To grow his business, the scion of a wealthy Rhode Island real estate family has cultivated ties with military brass and politicians. Picerne once told a Rhode Island TV station that his military housing business is “recession-resistant.” As civilian real estate markets sputtered a decade ago amid the U.S. From those six Army housing partnerships alone, Picerne’s business stood to collect more than $254 million in fees for construction, development and management of the homes during the first decade of the deals, a Reuters analysis of the terms showed. In all but one of the six Army projects Reuters reviewed, Corvias didn’t have to invest a penny in equity until around a decade later, and the company kicked in less than a fifth of the money the military contributed. For Spanish interior designer Patricia Bustos, being bold in her Madrid apartment means combining different eras, ignoring outdated rules about matching and injecting quirkiness into all of her projects.
At his own homes, Picerne has employed British designer Martyn Lawrence Bullard, a star of the cable TV show Million Dollar Decorators. In the living room, the designer hung a gilded chandelier, sheathed the walls in black seagrass and added chairs clad in turquoise-hued leather. The popularity of black is due in large part to the ease with which the sofa can be accessorised. To reduce steam, which can lead to mildew, run the cold water into the bath before the hot water. To soak stiff joints, slice 5cm of unpeeled fresh ginger root into one litre of water in a saucepan. And Corvias gets additional fees from thousands of other homes it operates on six Air Force bases and one other Army post. Corvias also stands to earn hundreds of millions more in equity returns, the agreements show: It can share with the Army any cash left over from rental revenues after the projects’ expenses have been covered.
Just squirt a little on a tissue and wipe over the pen – it will get it off,’ a woman wrote. A Queensland woman purchased $4 worth of Polident and a spray bottle to clean her dirty couch and yellow-stained tiles, explaining in an online Facebook group how she went about transforming the furniture. Another unconventional but extremely useful tip is how to clean wallpaper. The clean lines of the kitchen are brought to life with a changing display of children’s artwork. To clean your sponge, simply wet and microwave it on high for two minutes. In a Meade neighborhood where Picerne’s business pledged to build stylish new housing for officers, debris-strewn concrete foundation pads lie between two schools. Wade’s husband and two small children soon developed breathing problems, which their doctors attributed to mold. Corvias let months go by before cleaning the ducts and declined to replace the carpet, according to notes a maintenance employee marked on Wade’s work request.
Corvias’ development plan for Fort Meade said residents would be on a “first name basis” with maintenance personnel. Picerne’s rise into the first rank of Army landlords followed a pivotal trip he made to North Carolina’s Fort Bragg 17 years ago. Corvias, Guggenheim and the Army declined to comment. John Picerne declined to comment for this story. Maryland’s Fort George G. Meade, home to the secretive National Security Agency, is where Picerne laid the cornerstone of his military housing empire. The Picerne family has been in real estate for nearly a century, building a national portfolio. Many of the dozen-plus other real estate firms with military housing contracts partner together on projects, sharing income. Corvias is shielded from risk in another way: It isn’t obligated to repay nearly $1.9 billion in bank loans its military housing projects have received. In five of the six projects reviewed for this article, Corvias wasn’t required to invest any cash at first.