Return to the "POINTER VIEW"April 27, 2001
Return to the "POINTER VIEW"
April 27, 2001
FORT HOOD, Texas -- Army officials announced April 13 that they will seek congressional approval for the largest military housing privatization ever. The project is part of the Army’s Residential Communities Initiative.
Known as Fort Hood Family Housing Limited Partners, the partnership will renovate or replace all existing 5,622 housing units and build 290 additional units at Fort Hood, near Killean, officials said.
"This initiative provides soldiers with quality housing that will help the Army attract and retain the quality of soldiers we need," acting Secretary of the Army Joseph W. Westphal said during the news conference.
Lend Lease Actus and Trammell Crow Residential, the primary partners with Army in this initiative, will spend $300 million in the first 10 years of the $4 billion, 50-year contract to replace or renovate 90 percent of the homes.
Congress must still approve the program, officials explained, but within one year of approval, Army families could start to move into the first new homes.
"The Army has long recognized that building and maintaining homes is not one of our core competencies," Westphal said. "The Army’s RCI program allows us to provide quality homes more quickly and in a cost-effective manner. It’s just smart business."