Balfour Beatty Communities in partnership with the United States Army at Fort Carson, CO, recently celebrated the start of a multi-phased development project planned for its privatized military housing community, Fort Carson Family Homes. The July 13, 2022 groundbreaking event was held at the Cherokee Village West neighborhood where existing 60-year-old military housing units will be demolished to make way for the planned construction of new homes for active duty service members and families assigned to Fort Carson.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220714005646/en/

Balfour Beatty Communities and the United States Army initiate demolition to make way for new housing at Fort Carson. (Photo: Business Wire)

The event included remarks from Col. Nate Springer, Fort Carson Garrison Commander, and Balfour Beatty Communities representatives. Major General Omar Jones, Deputy Commander, US Army Installation Management Command, and Major General David Hodne, Fort Carson Commanding General, were also in attendance.

“The goal of the Military Housing Privatization Initiative is to support our service members by providing a quality housing experience,” said Rick Taylor, President, Facilities Operations, Renovations and Construction for Balfour Beatty Communities. “We are pleased to be working with the Army toward our common goal of bringing new, modern homes to Fort Carson and to continue delivering on our commitment to support active duty families.”

The demolition is the first stage of a multi-phased project paving the way for new three- and four-bedroom townhomes that will feature open floor plans, generous storage, updated finishes and flooring, outdoor living spaces and energy efficient systems and appliances. A new playground and covered picnic area is also planned as part of the project.

To make this development project possible, Balfour Beatty Communities continues to work with the Army to secure private financing for Fort Carson and other Army properties in its housing portfolio.

Working with the Department of Defense, as part of the Military Housing Privatization Initiative (MHPI), Balfour Beatty Communities has delivered more than 14,000 new homes and significantly renovated an additional 15,000 housing units. MHPI was enacted in 1996 to leverage private-sector capital and expertise to address the military’s backlog of deferred maintenance by expanding and upgrading housing, with predictable, stable long-term operating costs and performance. Balfour Beatty Communities will finance, develop, build, renovate and operate these projects for at least 50 years.

About Balfour Beatty Communities

Balfour Beatty Communities is an active owner and operator of residential real estate in the multifamily, student and military housing sectors across the United States. Since its inception in 1999, Balfour Beatty Communities has invested in nearly 100 properties representing more than $7.9 billion of gross asset value. Our broad in-house expertise includes decades of acquisition, development, finance, renovation, leasing and property/facility management experience. Leveraging this extensive expertise and a customer service-focused approach, Balfour Beatty Communities seeks to create value in its real estate projects while delivering exceptional living experiences. For more information, visit balfourbeattycommunities.com.

Balfour Beatty Communities is a subsidiary of Balfour Beatty Investments, Inc. and Balfour Beatty plc, a leading international infrastructure group.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220714005646/en/