CREC to build new headquarters in Troy
During the last year, Cuivre River Electric Cooperative has been working with Cooperative Building Solutions (CBS) to carefully evaluate the co-op’s headquarters building in Troy, to determine the building’s sustainability for current and future needs.
The original building, constructed in 1962, has been added onto over the years to accommodate staff to serve the co-op’s growing needs. Major office renovations to the Troy headquarters took place in 1986 and again in 2000.
The evaluation included examining things such as structure, safety, the life of the building’s systems (electric, water, HVAC, etc.), and consideration of costs to repair existing, chronic issues related to an aging structure. CBS also studied the building’s growth potential and its functionality today as well as what will be needed in coming years.
“After reviewing the evaluation, it became apparent that there were major issues related to functionality for our members and employees, limitations on space due to our growth, as well as continued increases in maintenance costs,” said General Manager/CEO Doug Tracy.
The results of CBS’ study, along with options for moving forward, were presented to the CREC Board of Directors. After much consideration, the board voted to construct a new building on the site of the cooperative’s current headquarters located at 1112 E. Cherry Street in Troy.
Construction on the new building is expected to begin in spring 2019, and is expected to last 14-16 months.
“Members may question if constructing a new building will impact their rates; it will not,” said Tracy. “This new building is no different than a new pole or transformer; it is an asset. As an asset, the cost will be financed with payments built into the budget. Because of our solid financial position, we are able to obtain extremely competitive financing. We want the new headquarters to be a facility our members and employees can be proud of; however, we will be conservative with the design and materials to make the most of our investment.”
CREC will remain open during the construction. As construction proceeds, CREC will keep members informed about any changes on how to access the lobby and drive-through as needed. For more details, download our FAQ.