Army Taps Balfour Beatty as Partner on West Point Housing Project
- Aug 06, 2008
Under the government’s Military Housing Privatization Initiative, the pool of residential units at the United States Military Academy at West Point will be upgraded and expanded, and Balfour Beatty Communities L.L.C. has just been tapped to partner with the U.S. Army on the project. The 50-year commitment will kick-off with an eight-year initial development period valued at $207 million, and will ultimately encompass 824 units. The Military Housing Privatization Initiative, authorized 12 years ago by Congress, paves the way for the cost effective provision and operation of new and upgraded quality housing through joint ventures with private-sector entities. As the private-sector partner on the West Point endeavor, Balfour Beatty has a list of responsibilities that includes design, construction and renovation. The Army’s oldest continuously occupied military post in the United States, 230-year-old West Point is home to a bevy of historic buildings, including 416 homes that Balfour Beatty will restore. The company’s building unit, Balfour Beatty Construction U.S., will perform the construction and renovation work under a program that will conclude in 2016. Once all building and upgrading reaches completion, Balfour Beatty will handle management, maintenance and operational tasks for the units. Balfour Beatty has had a busy few weeks. On July 24, it announced the finalization of an agreement with the Air Force for the Air Mobility Command West project. The seven-year initial development period for the 50-year AMC West endeavor, which involves an aggregate 2,435 units at three bases, is valued at $410 million. And at the end of June, the company closed on the approximately $3 million acquisition of interests in the Army’s Fort Leonard Wood Military Housing Privatization project in Pulaski County, Mo., from American Eagle Communities. Taking into consideration revisions made upon the purchase of the interests, Balfour Beatty will be responsible for a total of 1,806 housing units at Fort Leonard Wood. Headquartered in Newtown Square, Pa., Balfour Beatty Communities develops, renovates, operates and manages military privatization housing projects for the U.S. Army, Navy and Air Force. All told, Balfour Beatty presently operates 15 military housing projects encompassing 42 bases, including West Point, and spanning 20 states.