GMH Signs $337 Million Air Force Housing Deal

GMH Communities Trust has signed a $337 million agreement with the United States Air Force to become the private sector developer for a 50-year Air Education and Training Command Group housing project.
The deal includes the construction of 2,875 housing units at four bases, including Altus Air Force Base in Oklahoma.
Oklahoma City-based Benham Cos. Inc. will provide architectural and engineering support for the projects.
The agreement begins with a five-year initial development period that includes the design, construction or renovation of the 2,875 units located at Atlus; Luke Air Force Base in Glendale, Ariz.; Sheppard Air Force Base in Wichita Falls, Texas; and Tyndall Air Force Base in Panama City, Flor.
At the completion of the project, GMH assumes management, maintenance and operational responsibilities for the housing in those locations for 50 years.
The project is GMH’s 10th military housing privatization project and its first for the Air Force. All 10 of the GMH projects come under the Military Housing Privatization Initiative, which was authorized by Congress in 1996.

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