Department of the Army and Balfour Beatty Communities Enter into $207 Million Housing...

Department of the Army and Balfour Beatty Communities Enter into $207 Million Housing Privatization Project at the United States Military Academy at West Point, NY

West Point Project Represents Company's 15th Military Housing
Privatization Project and 42nd Military Base in its Portfolio
NEWTOWN SQUARE, Pa.--(Business Wire)--
Balfour Beatty Communities, LLC announced today that it has
finalized agreements with the U.S. Department of the Army to be its
private sector partner for the United States Military Academy at West
Point military housing privatization project located in Orange County,
NY. The Project has a 50-year term, commencing with an eight-year
initial development period (IDP) with project costs of approximately
$207 million. During the IDP, the Company will oversee and provide the
design, construction, renovation, and overall management, maintenance
and operational responsibilities for an estimated 824 end-state
housing units. The project scope also includes the restoration of 416
historic homes at West Point, which remains the Army's oldest
continuously occupied military post within the United States, dating
back to 1778.

"We recognize the strategic role that West Point has played
throughout our nation's history, and are honored and proud to provide
services to this landmark institution. In addition, we are eager to
commence site work in order to improve housing conditions for the
military families of West Point, while ensuring that the community
design reflects its historic qualities and distinction," commented
Bruce Robinson, President and CEO of Balfour Beatty Communities.

Congressionally authorized since 1996, the Military Housing
Privatization Initiative allows the Department of Defense and Military
Services to work with the private sector to upgrade the quality of
family housing and operate and maintain that housing. The family
housing assets are typically leveraged with private investment to
accomplish housing construction and renovation goals faster and at a
lower cost than military construction.

Including the West Point Housing Privatization Project, Balfour
Beatty Communities, LLC (www.bbcgrp.com) operates 15 military housing
privatization projects covering family housing at 42 military bases.
The Company has partnered with The Department of the Army for the
military family housing privatization projects at:

-- Fort Stewart, Hinesville, Georgia and Hunter Army Airfield,
Savannah, GA

-- Walter Reed Army Medical Center, Washington, DC and Fort
Detrick, Frederick, MD

-- Fort Hamilton, Brooklyn, NY

-- Fort Carson, Colorado Springs, CO

-- Fort Gordon, Augusta, GA

-- Carlisle Barracks, Carlisle, PA and Picatinny Arsenal, Dover,
NJ

-- Fort Eustis, Newport News, VA and Fort Story, Virginia Beach,
VA

-- Fort Bliss, El Paso, TX and White Sands Missile Range, Las
Cruces, NM

-- Fort Leonard Wood, Pulaski County, MO

In addition, Balfour Beatty Communities partnered with the
Department of the Army for the privatization of Unaccompanied Officer
Quarters/Unaccompanied Senior Enlisted Quarters at Fort Stewart,
Hinesville, GA.

The Company has partnered with the Department of the Navy for its
Navy Northeast Region Project, covering eight Naval bases in Maine,
Rhode Island, Connecticut, New York and New Jersey, as well as the
Navy Southeast Region Project covering 11 Naval bases in South
Carolina, Florida, Georgia, Mississippi, and Texas.

The Department of the Air Force also has awarded Balfour Beatty
Communities with military housing privatization projects at Vandenberg
Air Force Base, Lompoc, California; the Air Education and Training
Command (AETC) Group I Project, consisting of four Air Force bases in
Oklahoma, Arizona, Texas and Florida; and the Air Mobility Command
(AMC) West Project, consisting of three Air Force bases in Washington,
California and Oklahoma.

About Balfour Beatty Communities

(www.bbcgrp.com)

Balfour Beatty Communities, LLC (formerly known as GMH Military
Housing) is responsible for the development, renovation, operation and
management of military privatization housing projects for the U.S.
Departments of the Army, Navy and Air Force. The Company has been a
leader in the military housing industry, and provides services to
members of the U.S. military and their families residing on or near
bases located in 20 states and Washington, DC. Currently based in
Newtown Square, PA, the company employs approximately 1,000 people
nationwide.

Balfour Beatty Communities, LLC
Kathleen M. Grim, 610-355-8206
kgrim@bbcgrp.com
or
Gregory FCA
Katie Miller
610-228-2124 or 610-639-7070
Katie@GregoryFCA.com
(General Media Contact)

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