This article is from the Australian Property Journal archive
Actus Lend Lease has won the job to develop family housing at two key United States Air Force installations in Arizona and New Mexico valued initially at $US300 million ($A400 million).
The project includes the construction, renovation and property management of more than 2,000 homes in a 50-year development and management transaction with an initial development budget of approximately $US300 million over the first six years of the project.
The Air Combat Command Group 2 Military Housing Privatization Project is in negotiations with Actus on the delivery of the 50-year development and management venture at Davis-Monthan Air Force Base in Tucson, Arizona, and Holloman Air Force Base in Alamogordo, New Mexico.
Situated on 4,303 hectares of Tucson’s Rincon Valley, Davis-Monthan Air Force Base is host to the 12th Air Force headquarters and associated units and it is home to more than 6,500 military personnel, 1,100 civilians, 22 squadrons and 80 aircraft.
Holloman Air Force Base is home to the 49th Fighter Wing and provides support to German Air Force training operations. More than 3,872 US Air Force active duty and 670 German Air Force military personnel live on the base.
“Over a relatively short period of time, Actus has developed market leadership in the delivery of sustainable communities through public/private partnership with the US military,” Lend Lease’s retail and communities global chief executive Ross Taylor said.
Actus Lend Lease now has more than 30,000 homes in its portfolio and is responsible for some of the largest US military bases including Hickam AFB, Hawaii; Parris Island, South Carolina; Fort Hood, Texas; Fort Campbell, Kentucky; Camp Lejeune, North Carolina; Fort Drum, New York; and Schofield Barracks and Fort Shafter in Hawaii.
“This is largely due to the dedication and commitment of the Actus team, whose members work in close collaboration with their US military partners to create places where people will enjoy living and working on and around a base.” he added.
“Privatisation of military family housing is a unique process with many advantages for both the bases and the local community. In addition to better housing, our vision for Davis-Monthan and Holloman includes positive local business impact upfront and over the long term,” Actus Lend Lease’s president Mark Menhinnitt said.
By Adam Parsons