Balfour Beatty Wins 50-Year, $410M USAF Housing Project
- Jul 25, 2008
In a project that will span 50 years and three bases in three states, Balfour Beatty Communities of Newtown Square, Pa., will develop, manage and maintain 2,435 housing units for the U.S. Air Force’s Air Mobility Command. The three bases are Fairchild Air Force Base, near Spokane, Wash.; Travis Air Force Base, near Fairfield, Calif.; and Tinker Air Force Base, near Oklahoma City. The West Military Housing Privatization Project will begin with a seven-year Initial Development Period and includes the design, construction and/or renovation, management, and maintenance of the housing units. It falls under the Military Housing Privatization Initiative, which was authorized by Congress in 1996 and permits the Department of Defense and the individual armed services to partner with the private sector on upgrading military family housing and operating and maintaining it. This is the 14th military housing privatization project for the company, which was formerly GMH Military Housing. As CPN reported in February and subsequently, GMH Communities Trust, a REIT based in Newtown Square, Pa., merged with American Campus Communities, Austin, Texas, after agreeing to sell off its military housing division for $350 million to the U.S. subsidiary of Balfour Beatty Plc, London. The parent company is one of the largest construction and civil engineering companies in the U.K. Overall, Balfour Beatty Communities L.L.C. operates 14 family housing privatization projects at 41 military bases, including Army bases in 10 states and the District of Columbia, Navy bases in 10 states and Air Force bases in six states.