Forest City, Air Force ink agreement for Keesler housing privatization Published Oct. 5, 2011 By Forest City Communities and 81st Training Wing Public Affairs KEESLER AIR FORCE BASE, Miss. -- Forest City Military Communities and the Air Force, through the Air Force Center for Engineering and the Environment, signed the housing privatization agreement for Keesler and three other bases Sunday. FCMC Southern Group, LLC, was formed as a housing privatization venture for the development and management of family housing at Joint Base Charleston, S.C., Shaw Air Force Base, S.C., and Arnold AFB, Tenn. The agreement and its related financial closing provides for a specified initial development period for the construction of new family housing and community amenities as well as a 50-year property management responsibility. In total, the Southern Group project involves an end state of 2,185 Air Force family homes. "This is a great day for Keesler's military community," said Brett Long, 81st Infrastructure Division housing flight chief. "The benefits and amenities our partner, Forest City, can provide outweigh what traditional government housing could provide. One immediate benefit Forest City provides will be lawn care for the residents. "While it's hard to let go of something I have watched develop over the last few years, I know our residents are in good hands," Long added. "We are very fortunate to have a terrific partner like Forest City." "Forest City is very excited and proud to take the leadership role in the new construction and management of the Southern Group commiunities," said Thomas Henneberry, FCMC president. "We firmly believe the high quality, redeveloped neighborhoods that have been specifically designed for this project will significantly enhance the daily quality of life for the families of the Southern Group bases for many, many years to come." A wholly-owned subsidiary of Forest City Enterprises, Inc., FCMC is now responsible for the development and management of more than 14,100 military family homes in eight states. FCMC has developed and manages similar military family housing projects at the Air Force Academy, Colo., as well as at several regional naval installations in Hawaii, the Puget Sound region of Washington, Illinois, Indiana and Tennessee. Development plans for Keesler include several amenities enhancements including a new, well-equipped maintenance facility and clubhouse for residents. Construction of the facility is scheduled to begin next month and be completed in August. Because of the relatively recent construction of new family housing at Keesler, the Southern Group's family housing project doesn't include any demolition or new construction of homes as it does at the other three Southern Group bases. Hensel Phelps Construction Co. serves as the general contractor at all four of the Southern Group housing projects involved in the FCMC agreement. The company has extensive experience in building military family homes across the country. Many local and regional subcontractors will also participate in the Southern Group projects. Forest City Residential Management has assumed all day-to-day property management duties by establishing an on-site management team including a highly qualified corps of service and maintenance technicians. The Forest City management team is also responsible for community-building resident activities and programs. Forest City Enterprises, Inc. is listed on the New York Stock Exchange as a national real estate company with $10.7 billion in total assets. The company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate and land throughout the U.S. For more information, call 374-5336 or visit www.forestcity.net.