MALVERN, Pa.--(BUSINESS WIRE)--Balfour Beatty Communities, a leading residential real estate investment and management company, recently launched a large-scale renovation project to improve the energy performance of more than 4,900 homes at eleven Navy installations on behalf of its Navy Southeast Housing partnership with the Navy. The project will bring both water and energy-conservation improvements through a self-funding Energy Savings Performance Contract (ESPC).
“These energy upgrades will immediately enhance the comfort of our residents across the Navy Southeast portfolio, and the future utility savings realized will be reinvested to fund further renovations and improvements,” said Ed Lopes, Vice President Project Development for Balfour Beatty Communities. “This project also directly supports the Department of Defense objective to improve the resiliency of our military installations.”
The $31M project will bring conservation upgrades to privatized military family housing communities operated by Balfour Beatty Communities at Naval Air Station Jacksonville (FL), Naval Air Station Joint Reserve Base Fort Worth (TX), Naval Air Station Key West (FL), Naval Air Station Meridian (MS), Naval Air Station Pensacola (FL), Naval Air Station Whiting Field (FL), Naval Construction Battalion Center Gulfport (MS), Naval Station Mayport (FL), Naval Submarine Base Kings Bay (GA), Naval Support Activity Charleston (SC), and Naval Support Activity Panama City (FL). Work is underway at several sites and Balfour Beatty Communities expects all homes across the 11 installations will be completed in the fall of 2023.
The turnkey project is being delivered in conjunction with ENGIE Services U.S., a subsidiary of ENGIE, a global leader in low-carbon energy and services. Upgrades will include new, high-efficiency HVAC systems equipped with modern thermostats and humidity-sensing bathroom exhaust fan switches, which will make the homes more comfortable to live in, reduce mechanical outages, and standardize equipment across the portfolio which will reduce operating and maintenance costs. The project will also improve the homes with weatherization sealing, and provide comprehensive water efficiency and energy upgrades through domestic water retrofits and LED lighting technology.
Southeast Housing LLC is a joint venture between affiliates of Balfour Beatty Communities and the U.S. Navy under the Military Housing Privatization Initiative (MHPI). MHPI has enabled extensive renovations, new construction and sustainability initiatives for service members and their families living in on-base military housing communities.
About Balfour Beatty Communities
Balfour Beatty Communities is an active owner and operator of residential real estate in the multifamily, student, and military housing sectors across the United States. Since 1999, Balfour Beatty Communities has invested in more than 100 properties representing more than $8 billion of gross asset value. Our broad in-house expertise includes decades of acquisition, development, finance, renovation, leasing and property/facility management experience. Leveraging this extensive expertise and a customer service-focused approach, Balfour Beatty Communities seeks to create value in its real estate projects while delivering exceptional living experiences. For more information, visit balfourbeattycommunities.com.
Balfour Beatty Communities is a subsidiary of Balfour Beatty Investments, Inc. and Balfour Beatty plc, a leading international infrastructure group.
