Officials with Balfour Beatty Communities recently announced that a comprehensive plan to restore military family housing at Tyndall Air Force Base has been submitted to both the Air Force and the senior lender for the project for approval. If these parties consent to the multi-phase plan, restored homes could be available as early as this coming fall. The comprehensive housing community restoration project is expected to take approximately two years.
As a result of Hurricane Michaels devastation, all of the 867 family homes located on 500 acres at Tyndall Air Force Base were significantly damaged or destroyed. Neighborhoods like Bay View and Beacon Beach, which are comprised of older homes and are located just along the water outside of the main gate on highway 98, were particularly hard hit. While other neighborhoods in the community fared better, there was significant damage to roofs, windows and siding throughout, which left interiors vulnerable to water intrusion. As a result, comprehensive restoration work is needed, to include walls, flooring and HVAC systems. All of the homes to be restored will require a total interior demolition and remediation before the interior restoration can begin.
Balfour Beatty Communities has been partnering with both the Air Force and the senior lender on the project in working toward a strategic plan for Tyndall AFB Homes that goes beyond restoration and will focus on rebuilding a smarter, more connected community. The company is currently working with national partners to invest in new fiber optic infrastructure and improved cellular coverage, as well as smart home technology as part of the planned upgrades. All homes will also be fully updated according to local codes for new residential construction.
While Hurricane Michael brought widespread destruction to the Tyndall AFB Homes community, it also brought opportunity, said Mark Lavin, senior vice president, Balfour Beatty Communities. Our team, the Air Force and others have been able to completely reevaluate the housing needs of todays Airmen stationed at Tyndall and develop a restoration plan that will deliver a more modern and resilient community that more directly supports how these military families live and is better able to withstand future storm impacts.
Balfour Beatty Communities teams have been actively engaged in stabilization and restoration efforts at Tyndall since the hurricane struck. To date, all homes that will be recovered have had the building envelope completely sealed, which includes tarping, securing roofs and windows, and ˜drying out all interior spaces. Other efforts currently underway include roof repair/replacement and interior demolition work that will pave the way for full restoration. In early January, the team also started soliciting bids from restoration subcontractors, including multiple rounds of site visits with interested/qualified parties.
WANT TO BUILD A FINANCIAL EMPIRE?
Subscribe to the Global Banking & Finance Review Newsletter for FREE Get Access to Exclusive Reports to Save Time & Money
By using this form you agree with the storage and handling of your data by this website. We Will Not Spam, Rent, or Sell Your Information.
We have an important mission to accomplish at Tyndall Air Force Base, continued Lavin. Our team is committed to continuing to guide all stakeholders through the complex process of developing, funding and executing a construction project of this size and scale. We look forward to welcoming military families back to a new and improved Tyndall AFB Homes as soon as we possibly can.
Balfour Beatty Communities Military Housing division is in a 50-year partnership created with the Department of the Air Force through the Military Housing Privatization Initiative (MHPI). As one of the leading partners in MPHI and a premier military housing developer, Balfour Beatty Communities owns and manages more than 43,000 homes across 55 Army, Navy and Air Force installations throughout the United States.
About Balfour Beatty Communities
Balfour Beatty Communities, LLC is a diversified real estate services company delivering development, design, financing, construction, renovation, property and facilities management services in the multifamily, student and military housing sectors. A leader in the industry, Balfour Beatty Communities has more than 50,000 residential units and $6 billion in real estate assets under management and has developed or renovated more than 29,000 units with a total value of close to $4 billion. Headquartered outside Philadelphia, PA, Balfour Beatty Communities has more than 1,200 employees and is a subsidiary of Balfour Beatty Investments, Inc.
Balfour Beatty Investments is part of Balfour Beatty plc, a global leader in construction services, support services, and infrastructure investment.
Balfour Beatty Communities