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Clark Wins $300M Housing Mandate From Air Force

ARLINGTON, VA-The initial six-year development budget for the housing initiative will be divvied between MacDill and Andrews Air Force Base.

By Erika Morphy | Updated on November 28, 2007

(Read more on the debt and equity markets and more on the multifamily market.)

ARLINGTON, VA-Clark Realty has won a $300-million mandate from the Department of the Air Force to rehab existing housing communities that serve the Air Mobility Command East, or AMC East, which includes both MacDill Air Force Base in Tampa, FL and Andrews Air Force Base in Prince George’s County, MD.

The mandate itself has a 50-year term; however, funding has only been secured for the first six-year phase, Sean Callahan, development executive with Clark Realty tells GlobeSt.com. The development budget for the first six years is $300 million, with $120 million slated to be spent at Andrews and $180 million at MacDill.

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