Nov
05

Developer Gets Financing For Fort Jackson Housing Work

By
November 5, 2008

By Chuck Crumbo – The State

A developer planning to build and renovate 850 housing units at Fort Jackson announced today it has secured $168 million in financing to get the project off the ground.

“Having secured the financing will allow us to begin implementing our plan of providing a high-quality housing community to the military families serving at Fort Jackson,” said Bruce Robinson, president and CEO of Balfour Beatty Communities, based in Newtown Square, Pa.

Balfour, which has developed similar projects at 42 bases, signed on Aug. 1 a 50-year ground lease with the Army for the purpose of owning and man-aging housing at Fort Jackson.

Federal law allows the military to partner with private companies to build and renovate living quar-ters for troops and their families.

Of 3,000 soldiers stationed at Fort Jackson, about 500 of them live on post with their families. Another 300 live in units for single troops.

LINK TO ARTICLE HERE:

http://www.thestate.com/breakingbiz/story/579625.html
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