Balfour Beatty Tapped as Developer for Northern-Tier Bases
- November 7, 2011
Newton Square, Pa.-based Balfour Beatty Communities (BBC) will enter into formal negotiations toward an agreement to develop family housing at six northern Air Force bases following its selection as the project’s highest ranked offeror, the company announced Monday.
The northern group — made up of Minot AFB, Grand Forks AFB and Cavalier Air Force Station in North Dakota; Ellsworth AFB, S.D.; Mountain Home AFB, Idaho; and Cannon AFB, N.M. — is expected to have a six-year initial development period and cover an estimated 4,761 end-state housing units. Estimated project costs are valued at $470 million.
The deal will require only $7.4 million in federal funding, the Air Force said.
Under the deal, the Air Force will lease up to 2,056 acres of land as part of a 50-year transaction and convey 4,794 existing housing units and other improvements to BBC. At the end of the initial development period, 1,165 units will be new, 367 will be renovated, 3,229 units will remain “as is” with no improvements necessary, and 1,198 units will be demolished. Community amenities are included in the deal.
BBC’s partners include Balfour Beatty Construction, and Niles Bolton Associates and Woolpert, which will provide architecture and engineering services, respectively.