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22 November 2007
Lend Lease reaches financial close on US$304m Marine Corps Communities development project
Lend Lease Corporation Limited (“Lend Lease”) today announced that Actus Lend Lease and the Department of the Navy have reached financial close on Phase Three of the development of family housing at three key Marine Corps installations in North Carolina and Massachusetts.
Phase Three of the Atlantic Marine Corps Communities (“AMCC”) project consists of Marine Corps Base Camp Lejeune and Marine Corps Air Station Cherry Point in North Carolina, and Westover Joint Air Reserve Base in Massachusetts.
The project includes the development, construction, renovation and management of more than 2,000 homes across the three installations over 50 years. It has an initial development spend of US$304 million (approximately A$345 million) over the first five years.
Actus Lend Lease is currently managing Phases One and Two of the AMCC project at Cherry Point, Camp Lejeune and in the Orange County, New York enclave of Stewart Terrace.
Actus Lend Lease has ten operational projects across the United States worth approximately US$5.6 billion in development value.stock exchange
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