FORT CAMPBELL, Ky. – Lendlease, in partnership with the United States Army, announced April 20 it closed on $1.1 billion in financing that will allow it to execute on improvement plans for privatized military housing communities located at five Army installations including Fort Campbell.
Lendlease is the Army’s privatized housing partner that operates Campbell Crossing at Fort Campbell.
The capital investment is a continued progression in the Army and Lendlease’s ongoing commitment to provide quality housing for Soldiers and Families and will expedite planned improvements in the accelerated out year development program by several years.
Approximately $235 million of the $1.1 billion will be invested in Campbell Crossing, Fort Campbell’s on-post Family housing community. The approved work that is set to begin this year and continue over the next five years includes the demolition of 430 homes, construction of more than 530 new junior enlisted homes, minor renovations of nearly 500 homes and 140 roof replacements.
“With this $1.1 billion private capital investment, Lendlease is proud to begin work across our Army housing portfolio, bringing new homes and improvements to our communities and ensuring homes fully meet the needs of today’s military service members and their Families,” said Denis Hickey, CEO, Lendlease Americas, in a released statement. “
The other installations receiving considerable housing investments under this plan include Fort Knox, Kentucky; Fort Hood, Texas; Fort Drum, New York; and Army housing on Oahu, Hawaii. Lendlease, as part of the approved scope of work, will renovate approximately 12,000 existing homes and construct approximately 1,200 new homes at the five installations over the next five years.
“This has been a long time coming,” said Col. Jeremy D. Bell, Fort Campbell garrison commander, in a February interview with the Fort Campbell Courier. “We made a promise to our Soldiers and Families to improve their quality of life on Fort Campbell and we are ready to deliver in a big way.”
In early March, Fort Campbell and Lendlease celebrated a large-scale housing development project with a groundbreaking for Erevia Park, a 144-unit community for junior enlisted Soldiers. This project is part of an $87.4 million development plan that will construct 144 new three- and four-bedroom homes, majorly renovate 170 New Hammond Heights homes and demolish 250 outdated homes in LaPointe Village over the next five years. The multimillion-dollar project was approved by the Army in 2020 and is funded through Lendlease’s project reinvestment account.
“The additional $235 million investment at Fort Campbell will allow Campbell Crossing to fully construct Erevia Park to its 430 home capacity by September 2024,” said Ted Reece, chief of the Housing Division, Directorate of Public Works. “Future occupants of Stryker Village and Drennen Park will benefit from minor renovations between July 2021 and September 2024.”
Also, the demolition of Hammond Heights multiplexes in 2023 will make land available for the construction of an additional 250 new homes, Reece said.
“The development projects provide community improvements designed with residents at the forefront; plan ahead when permanent enhance the look and feel of the community; and ensure that housing continues to support Soldiers’ and their Families’ needs today and into the future,” Bell said in an interview announcing the $1.1 billion investment. “Our goal is to make sure Fort Campbell remains one of the best places to live and serve.”