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Developer Secures $168M for Army Housing

COLUMBIA, SC-Balfour Beatty is building 850 units at Fort Jackson over the next five years.

By Carl Cronan | Updated on November 04, 2008

COLUMBIA, SC-Balfour Beatty Communities LLC has secured financing for a military family housing project at Fort Jackson. Proceeds will be used for design, development, construction and renovation of 850 living units over the next five years at a cost of approximately $168 million, including a 50-year ground lease.

Newtown Square, PA-based Balfour Beatty previously commenced a US Army contract in August to provide property management and maintenance services and will own and manage the military base housing inventory, collecting management and development fees. The company has contracts for similar projects at 42 other military installations nationwide, covering all branches of service.

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