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Article: Army's Privatization Initiative Takes Another Leap with Fort Hood Award.
- Article from:
- Corps Report
- Article date:
- July 12, 2000
CopyrightCOPYRIGHT 2000 Business Publishers, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Army's experiment to upgrade its decrepit stock of family housing moved another step forward after it completed a long-term deal to privatize on-post housing at Fort Hood, Texas.
The winning developer, a joint venture between Lend Lease Actus LLC of Napa, Calif., and Trammel Crow Residential, Atlanta, will renovate virtually all of the base's 5,482 units and build up to 900 new ones within 10 years. The value of the construction work - which the developer may choose to finish in as little as five years - is around $300 million, a level of investment the Army would need at least 25 years to secure if it did the work on its own.
In return, the ...
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