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By KENTUCK TODAY REPORT
Two Kentucky Army posts â Fort Campbell and Fort Knox â are among six Army posts that will be allocated millions of dollars in private-sector funding soon to construct new homes and improve the quality of existing houses.
Negotiated between the U.S. Army and Lendlease and announced Jan. 27, the agreement involves $1.1 billion in capital investment from various public financial institutions.
Lendlease officials said they plan to use the additional monies to renovate more than 12,000 existing homes while also constructing more than 1,200 new houses at the six installations. Itâs part of efforts to improve military housing after reports in 2018 revealed military families were contending with dangerous living conditions in privately managed military homes, including mold, lead paint, faulty electrical wiring and pest problems.
Army approves $1.1 billion for housing improvements on six installations including Fort Hood
A large portion of the investment will be given to Fort Hood. Fort Hood leaders say the base is grateful for the improvements to come. Author: Celeste Houmard (6News) Updated: 10:39 PM CST January 28, 2021
FORT HOOD, Texas The Army took a major step forward on January 5 to improve privatized housing by approving terms negotiated by Lendlease, a company that has partnered with the Army to own and operate housing on multiple installations, for $1.1 billion in capital investment from public financial institutions.
This investment of private-sector funding will allow Lendlease to accelerate their planned sustainment program at Army installations by more than 10 years. Lendlease owns and operates military housing nationally, which includes over 26,000 Army homes. It is one of the U.S. Army’s seven major private housing partners.
Army Approves Billion-Dollar Deal to Improve Housing Conditions at 6 Bases
A member of the Fort Drum Residential Communities Initiative/Housing Division inspection team checks out a house on Sept. 17, 2019. (Photo by Mike Strasser, Fort Drum Garrison Public Affairs)
27 Jan 2021
The U.S. Army announced a $1.1 billion deal with a private management firm to provide private funds to improve housing conditions for thousands of soldiers and their families at six of the service s installations.
The service approved the Jan. 5 deal with Lendlease, a company that has partnered with it to own and operate housing on multiple bases, according to an Army news release. The private-sector funding will allow Lendlease to accelerate its previously planned sustainment program at Army installations by more than 10 years.