Balfour Beatty Communities, in partnership with the U.S. Army at Fort Eisenhower in Augusta, Georgia, has broken ground on a new construction project to bring modern, upgraded homes to servicemembers and their families living on-base. The project is part of a comprehensive plan to invest in the renewal and reconstruction of dated housing across Balfour Beatty Communities' Army housing portfolio. The new development, called Pine Tree Terrace, will feature three and four-bedroom townhomes for privates and junior non-commissioned officers, as well as accessible four-bedroom detached homes and a playground. Site work is underway, and vertical construction is expected to begin in March 2024, with completion in late 2025.
Charles Parker, EVP Military Housing at Balfour Beatty Communities, expressed pride in serving those who serve and stated that the investment and renewal of the Fort Eisenhower community are top priorities. Colonel Reginald Evans, Fort Eisenhower Installation Commander, highlighted that Pine Tree Terrace provides much-needed new housing for junior enlisted servicemembers and marks the beginning of a multiyear development plan to modernize family housing at Fort Eisenhower.
Balfour Beatty Communities is working with the Department of Defense as part of the Military Housing Privatization Initiative (MHPI). Through MHPI, the company has delivered over 14,000 new homes and significantly renovated an additional 15,000 housing units. Balfour Beatty Communities will finance, develop, build, renovate, and operate these projects for at least 50 years.
Balfour Beatty is a leading international infrastructure group with 25,000 employees. The company finances, develops, builds, maintains, and operates critical infrastructure projects worldwide. Balfour Beatty Communities is an active owner and operator of residential real estate in the multifamily, student, and military housing sectors in the United States. The company has invested in nearly 100 properties representing over $7.9 billion of gross asset value.