On 1 December 2003 Actus Lend Lease and the Department of the Army signed an agreement for the long-term development and management of the military housing communities at Fort Campbell, Kentucky. The Actus Lend Lease - Army partnership, Fort Campbell Family Housing Lend Lease Corporation, will oversee all aspects of the 50-year project, including development, design, construction, financing, and property and maintenance management of over 4,200 homes and multiple community facilities.
The Army, as part of their Residential Communities Initiative (RCI) program, selected Actus Lend Lease in August 2002 as its partner for development of the Community Development and Management Plan (CDMP) for the privatization of the military communities at Fort Campbell. The project is valued at approximately $1.6 billion with an initial development scope of approximately $190 million. The project began full operations on 1 December and the first renovated home will be delivered to a military family at a 5 December ceremony. Future renovations are already in progress and will continue for the next three years. Approximately seventeen renovated homes will be available every month beginning in early 2004 with a total of 2,599 homes renovated on the base. New construction is expected to begin in April 2004 and will result in 891 new homes and multiple community facilities. After the initial six- year development period the end-state management and operations will encompass 4,255 homes.
Actus Lend Lease has three operational privatization projects: Army projects at Fort Hood, Texas and at Fort Campbell, Kentucky, and a Navy/Marine Corps project at the Tri-Command Military Complex in Beaufort, South Carolina. Additionally, the Army and Air Force selected Actus Lend Lease to develop and manage their housing privatization projects in Hawaii. The Army Hawaii project involves approximately 7,700 homes and is the single largest Army and Department of Defense project to date. The Air Force's project involves approximately 1,350 homes at Hickam Air Force Base.
Lend Lease offers property-related services to clients involved in the creation, improvement or management of real estate assets. This includes expertise in development and capital raising, program management, project and construction management, design and engineering, as well as facilities and funds/asset management.
Listed on the Australian Stock Exchange, the Lend Lease Group operates in 43 countries on six continents, with a significant presence in Australia, Asia, Europe, and the United States.
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