The newly formed partnership will enter into exclusive negotiations leading to a Public-Private Venture (PPV) agreement with the Department of Navy in November 2004. The Navy's Northeast region encompasses 4,460 family housing units at eight Navy installations in five states. The initial construction and development component of the contract is expected to be valued in excess of $600 million.

The project includes the construction and targeted renovation of housing and the addition of community facilities along with management of the communities. The contract includes: 723 units at NAS Brunswick, Brunswick, ME; 202 units at NSY Portsmouth, Kittery, ME; 795 units at NAVSTA Newport, Newport, RI; 2,039 units at NSB New London, Groton, CT; 227 units at SSU Saratoga Springs, Saratoga Springs, NY; 250 units at USN Mitchel Complex, Long Island, NY; 85 units at NWS Earle, Colts Neck, NJ, and 139 units at NAES Lakehurst, Lakehurst, NJ.

GMH is an affiliate of GMH Associates, also based here. Its selection for this contract is part of the Department of Defense Military Housing Privatization Initiative enacted in 1996. GMH was previously awarded agreements from the US Army for installations at Fort Stewart and Hunter Army Airfield, GA; Walter Reed Army Medical Center, Washington, DC; Fort Detrick, MD, and Fort Hamilton, NY. In addition, it recently purchased the family housing rights at Fort Carson, CO; and at Fort Eustis and Fort Story, VA.