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Balfour Beatty Communities to Develop Additional Housing at Fort Bliss, TX

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November 29, 2012

Expansion project will add 500 townhomes and community amenities to on-base housing

NEWTOWN SQUARE, PA --- November 29, 2012 --- Balfour Beatty Communities, LLC announced today that its Fort Bliss/White Sands Missile Range military housing privatization project with the U.S. Department of the Army will begin a new expansion phase covering the development and new construction of an additional 500 townhomes at Fort Bliss, TX. This is the second phase of an expansion project initiated in August 2011. The development and construction costs for this expansion phase have been primarily funded through the placement of a $141 million loan with the existing lender for the project. Balfour Beatty Communities will oversee the design, construction, and overall management, maintenance and operational responsibilities for the housing units, which are expected to be completed in January 2016. General contractor services will be delivered by Balfour Beatty Construction, LLC, based in Dallas, TX.

“The significant growth at Fort Bliss in recent years has created an increased need for military family housing options,” said Chris Williams, President of Balfour Beatty Communities. “This expansion project will help us keep pace with this need as we look to deliver the highest level of service to the military members and their families stationed at Fort Bliss.”

Balfour Beatty Communities assumed responsibility for family housing at Fort Bliss in July 2005. As a result of various initiatives within the Department of the Army, there has been a significant increase in the military strength at the installation, as they transform their focus from training to forces command. This refocus has led to an increased need for additional family housing options at the post. As a result of this expansion project, the total inventory of on-base homes will increase to more than 4,400.

The 500 newly constructed townhomes at Fort Bliss will be designated for Junior Enlisted (JENL) and Junior Non-Commissioned Officer (JNCO) ranks and their families. The new units will consist of two story, four-plex arrangements, and one-story duplex accessible units. Design and appearance will resemble single family homes developed under the Company’s existing Fort Bliss project, featuring stucco and arched entries. Additional amenities for the service members and their families will include playground areas, basketball courts, volleyball courts and large gazebos. Construction is expected to begin in the first quarter of 2013.

“We remain committed to sustainable and environmentally friendly development as we strive to deliver the highest quality product to the military families we serve and meet the sustainability goals of the Army,” said Williams. “This project includes upgrades to maximize energy efficiency that meet the National Green Building Standard. Once certified at the Emerald level, the project will be 50% more energy efficient than homes certified at LEED’s highest rating which only requires 10% efficiency above ASHRAE code.”

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