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Posts Tagged ‘defense real estate’

Corvias Closes on Continental Group of Air Force Bases

  • September 15, 2013
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Corvias Military Living assumed responsibility earlier this month for the development and management of family housing at six Air Force bases in a 50-year transaction involving more than 4,000 existing homes. The privatization project, valued at $455 million in total development costs, will provide new and renovated housing for 3,840 military families using only $87.2 million in government funding …

AFCEC Strategic Plan Spells out Agency’s Vision, Goals

  • September 9, 2013
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The Air Force Civil Engineer Center (AFCEC) will strive to provide “enterprise-wide solutions” to installations and the warfighter as it carries out its mission to sustain the service’s infrastructure, according to the first of three goals in the agency’s inaugural strategic plan. “We seek out opportunities to accelerate environmental restoration, restore useable acreage back to active-duty forces and unlock asset value through energy initiatives, leases or other public partnership engagements,” states the plan, titled “Battle Ready … Built Right …

Solar Project at New Jersey Base to Leverage Crowdsourced Funding

  • September 8, 2013
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A California company is using the Kickstarter model to attract financing for a project to outfit housing at Joint Base McGuire-Dix-Lakehurst in New Jersey with solar panels. Individuals can invest as little as $25 through Solar Mosaic’s website to help finance a 12.27-megawatt project intended to provide 30 percent of the power needs of service members and their families, reported the Daily Beast. The project will include 55,189 panels installed across 547 homes …

VA Uses EUL to Build Supportive Housing for Veterans at New York Medical Center

  • August 7, 2013
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The Department of Veterans Affairs is using an enhanced use lease to create housing for at-risk veterans and their families at the Canandaigua VA Medical Center in New York’s Finger Lakes region. Partnering with the VA on the $11.4 million project are the Finger Lakes Addiction Counseling and Referral Agency and Cazenovia Recovery Systems. Ohio-based KeyBank provided $5 million in Low Income Housing Tax Credit (LIHTC) equity to finance the project located on Cadence Square …

Privatization Initiative Greatly Accelerated Housing Improvements, Air Force Official Says

  • August 5, 2013
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Housing privatization has provided tremendous benefits to airmen while saving taxpayers billions of dollars, according to the top housing official for the Air Force Civil Engineer Center (AFCEC). The Military Housing Privatization Initiative, created by Congress in 1996, has allowed the Air Force to accomplish in 13 years what would have taken 32 years using traditional military construction funding, said Col. Thomas Laffey, director of AFCEC’s housing division …

Senate Committee Approves Property Disposal Legislation

  • July 31, 2013
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The Senate Homeland Security and Governmental Affairs Committee on Wednesday approved a measure intended to streamline the process for federal agencies to eliminate thousands of unneeded buildings and facilities. The 2013 Federal Real Property Asset Management Reform Act establishes a pilot program to dispose of up to 200 properties each year, with priority going to those with the highest value …

Excess Property Legislation Calls for Pilot Program to Expedite Disposal of Federal Sites

  • July 30, 2013
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Bipartisan legislation introduced in the Senate intended to slash the federal government’s inventory of unneeded building and facilities includes a pilot program for streamlining the rules for disposing of surplus properties. The 2013 Federal Real Property Asset Management Reform Act — introduced Monday by Senate Homeland Security and Governmental Affairs Committee Chairman Tom Carper (D-Del.), ranking member Tom Coburn (R-Okla.) and committee members Mark Pryor (D-Ark.), Rob Portman (R-Ohio) and Mark Begich (D-Alaska) — would provide the director of the Office of Management and Budget the authority to dispose of up to 200 properties each year, with priority going to those properties that have the highest fair market value …

Balfour Beatty Takes over Housing at Six Air Force Bases

  • July 29, 2013
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Newtown Square, Pa.-based Balfour Beatty Communities will take ownership of the housing at six Air Force bases across the nation’s northern tier on Aug. 1. All together the firm will hold a 50-year title to 4,761 housing units at Grand Forks AFB, Minot AFB and Cavalier Air Force Station in North Dakota; Mountain Home AFB, Idaho; Ellsworth AFB, S.D.; and Cannon AFB, N.M. …

Unaccompanied Housing Project at Ft. Meade Presents Gamble for Corvias

  • July 25, 2013
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Last year’s decision by East Greenwich, R.I.-based Corvias Military Living to fund the entire $72 billion cost of building apartments for single soldiers at Fort Meade, Md., poses a degree of risk for the company, which until April was known as Picerne Military Housing. The project — garden-style apartments for more than 1,400 soldiers — is the Army’s first privately-developed, on-post apartment community for unaccompanied junior enlisted soldiers …

Congress, GSA Look to P3 to Tame Federal Real Estate Costs

  • July 24, 2013
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House lawmakers and federal officials believe public-private partnerships (P3s) are the key to helping the federal government dispose of excess properties as well as reduce its real estate costs. “The question is, can we provide that space in a more cost effective manner? P3s effectively used have the potential to help leverage private expertise in meeting those needs and developing and restoring agency properties,” said Rep. Lou Barletta …

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