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U.S. Army and East Army Properties Celebrate Groundbreaking at Fort Lee March 18, 2008 CHESTERFIELD COUNTY, Va. - The U.S. Army and East Army Properties, LLC officially kicked off construction at Fort Lee today with a groundbreaking ceremony at Madison Park, the first neighborhood to be redeveloped as part of the Army’s Residential Communities Initiative. The $200 million redevelopment of family housing at Fort Lee includes construction of 651 new homes. The Army’s partner, East Army Properties, is comprised of Hunt Development Group of El Paso, Texas; Pinnacle, An American Management Services Company, of Seattle; and Falcon Properties of Plymouth Meeting, Pa. Ceremony speakers included Deputy Assistant Secretary of the Army, Privatization and Partnerships, Mr. William A. Armbruster; Fort Lee Garrison Commander Colonel Gwen Bingham; and Hunt Development Group Executive Vice President Mr. Robin Vaughn. “We are pleased to commence development at Fort Lee, and look forward to working with Pinnacle and Falcon Properties on this project,” said Vaughn. “Together we will provide the men and women stationed at Fort Lee and their families the quality in housing, amenities, and services they deserve.” Designed in the local colonial vernacular, the new three- and four-bedroom Energy Star efficient homes will boast two-car garages with additional bulk storage space, modern open kitchens, and ceramic tiled entry foyers. A 3,770-square-foot Neighborhood Center and three customer service satellite offices will be built within the neighborhoods. A swimming pool and workout room will be added to the East Community Center, and the Jackson Circle Community Center will be equipped with a splash park and picnic pavilion. Lessard Architectural Group of Vienna, Va. is the project’s architect. In addition to the Fort Lee project, Hunt and Pinnacle are developing, building, renovating, and operating military family housing at Scott Air Force Base, Ill.; Nellis Air Force Base, Nev.; Dover Air Force Base, Del.; Barksdale Air Force Base, La.; Langley Air Force Base, Va.; Bolling Air Force Base, Washington, D.C.; Columbus Air Force Base, Miss.; Laughlin Air Force Base, Texas; Randolph Air Force Base, Texas; Goodfellow Air Force Base, Texas; Maxwell Air Force Base, Ala.; and Vance Air Force Base, Okla. Hunt Development Group is currently managing development and construction at fourteen other Military Housing Privatization Initiative (MHPI) projects, and has 10 other MHPI projects in its portfolio. Pinnacle also owns and operates military family housing at Fort Benning and Camp Merrill, Ga.; Fort Belvoir, Va.; the Presidio of Monterey and Naval Postgraduate School in Monterey Bay, Calif.; and Fort Irwin, Moffett Federal Airfield, and Parks Reserve Forces Training Area, Calif. About Pinnacle Headquartered in Seattle, Pinnacle is the third largest manager of residential real estate with over 3,100 employees in 42 states and 266 cities. Pinnacle’s multifamily portfolio consists of over 140,000 units – of which more than 22,000 are military family homes. Pinnacle manages an international portfolio valued at more than $12.3 billion. About Hunt Hunt Development Group, LP is an affiliate of Hunt Building Corporation. Founded in 1947, Hunt Building Corporation and its affiliated companies provide a full range of development, design-build, construction management, investment, and asset/property management services across the country with a focus in public-private ventures, military housing, mixed-use, master-planned communities and retail. The companies have been headquartered in El Paso and operated by the Hunt family for four generations. Hunt has completed or is currently building/developing over 82,000 housing units, of which 65,000 are military family homes. Currently, Hunt has completed military housing projects in 38 states, representing more military family housing projects in the United States than any other entity. Other Hunt affiliated companies are Hunt Building Company, Hunt Communities, HBC Property Managers, Hunt NR, and Hunt Administrative Services. For more information, visit www.huntcompanies.com. About Falcon Falcon Properties is a self-managed, full service real estate development company based in South Eastern Pennsylvania with over 14 years of experience in the creation of market driven residential housing. Falcon has developed both multi-family and single-family projects in four states totaling nearly 10,000 units. These residential communities are comprised of both new construction and rehabilitation product. Fort Lee Family Housing represents the third Department of the Army Residential Communities Initiative (DA RCI) project in which Falcon and/or its principals have been involved. |
