Military Housing Privatization Plans Include Redevelopment of 3,189 Homes at Barksdale, Langley, and Bolling Air Force Bases
(WASHINGTON, February 22, 2007) -- The U.S. Air Force has announced its selection of BLB Family Housing, LLC to design, develop, finance, build, and manage the family housing at Barksdale Air Force Base, LA; Langley Air Force Base, VA; and Bolling Air Force Base in Washington, D.C. This award represents the largest Air Force housing award to date. BLB Family Housing, LLC is comprised of Pinnacle AMS Development Company, LLC of Irvine, California and Hunt Building Corporation of El Paso, Texas.
The proposed plan includes the development and construction of 1,753 new homes and renovation of 362 historically significant homes. In total, the project will include 3,189 homes for Air Force families. Approximately $750 million in private sector debt and equity will be spent during the seven-year initial development period to renovate existing and construct new/replacement family housing. Implementation is expected in the fall of 2007.
Pinnacle will provide co-development and property management services. Hunt will provide co-development, design-build, and asset management services. MVE & Partners, Inc. of Irvine, CA and Gile-Buck Architects of Boise, ID will provide architectural services and EDAW of Irvine, CA will provide land planning and landscape design for the communities.
In addition to this project, Pinnacle and Hunt are working together to develop, build, and operate military family housing at Dover Air Force Base in Delaware, Fort Lee in Virginia, in Scott Air Force Base in Illinois, and Nellis Air Force Base in Nevada.