Balfour Beatty Communities - a division of its US PPP concession arm – will carry out the US$362m (£230m) project to design, build and renovate 3,268 military homes at four bases in California, Wyoming, Montana and Missouri for the US Department of the Air Force.
Overall management and maintenance of the 50 year project, known as the Western Group Housing Privatisation Project, will be met by Balfour Beatty Communities. In addition, Balfour Beatty Capital has made an equity investment of approximately US$16.3m (£10.3m) in the project. Balfour Beatty Construction US will be responsible for the new construction elements of the project.
"We are delighted that this project has reached financial close, extending our long relationship with the US Air Force,” said Balfour Beatty chief executive Ian Tyler. “It is particularly pleasing to see many of the component parts of our Group in the US coming together to deliver this important project."
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