(Read more on the multifamily market.)

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FAIRBANKS, AK-Actus Lend Lease has entered into exclusivenegotiations with the US Army for the development of family housingat Fort Wainwright and Fort Greely in Alaska. Fort Wainwright islocated just outside Fairbanks and Fort Greely is located about 100miles southeast of Fairbanks, outside of a town called DeltaJunction.The project includes the construction, renovation andproperty management operations of more than 1,800 homes in a50-year sustainable development and management real estatetransaction. The initial development budget is approximately $420million over 6 years.

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The project is part of the US Army's Residential CommunitiesInitiative to improve the quality of housing for US service membersand their families. Actus Lend Lease has 10 military housingprojects totaling $5.6 billion underway across the US.

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The list of projects includes two large projects in Hawaii. AtHickam Air Force Base in Hawaii, the company is in the process ofprivatizing 1,356 homes as part of the first phase of a projectthat also includes the development, construction, renovation andmanagement of 1,118 homes over 50 years. The value of the projectsover the first several years totals more than $750 million.

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At the Army Hawaii Family Housing installation on Oahu, Actuslend Lease is in the midst of a $2.33-billion project that callsfor the construction of 5,388 new homes, the renovation/restorationof 2,506 existing homes and nine new community centers during the10-year initial development period. In what is being called thelargest solar-powered community, photovoltaic panels will supplyapproximately 30% of the communities' electrical needs.

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