This is an outrage!
Army Awards GMH Communities Trust Contract to Privatize Family Housing at U.S. Military Academy, West Point
NEWTOWN SQUARE, Pa., March 9 /PRNewswire-FirstCall/ -- GMH Communities
Trust (NYSE: GCT), announced today that its military housing division, GMH
Military Housing, has been selected by The Department of the Army to
design, construct and manage military family housing at the U.S. Military
Academy in West Point, NY as part of the Residential Communities Initiative
(RCI). The project will immediately improve the quality of life for
Soldiers and their families assigned to the Army's oldest active
installation. The project is expected to have a five-year initial
development period (IDP) with project costs valued in excess of $160
million, and covering 628 end-state housing units. The 50-year project will
involve the development, management and construction and renovation of
high-quality homes and other ancillary facilities and amenities to meet the
needs of the West Point community.
"We are extremely honored to have been awarded this historic project
and look forward to providing high quality housing communities to the
military members and their families at West Point," commented Bruce
Robinson, president of the Company's military housing division.
The Company is utilizing its strategic alliances with Centex
Construction Company to provide construction services for the project and
Niles Bolton Associates for planning and architecture.
Congressionally authorized since 1996, the Military Housing
Privatization Initiative allows the Department of Defense, and the
Department of the Army (via its Residential Communities Initiative - Office
of the Assistant Secretary of the Army for Installations and Environment),
to work with the private sector to upgrade the quality of family housing
and operate and maintain that housing. The family housing assets are
typically leveraged with private investment to accomplish housing
construction and renovation goals faster and at a lower cost than military
construction.
GMH Military Housing (
http://www.gmhmilitaryhousing.com), currently operates
10 military housing privatization projects, and previously has partnered
with the U.S. Department of the Army for the military family housing
privatization projects at Fort Stewart and Hunter Army Airfield, southeast
Georgia; Walter Reed Army Medical Center, Washington, DC and Fort Detrick,
Frederick, Maryland; Fort Hamilton, Brooklyn, New York; Fort Carson,
Colorado Springs, Colorado; Fort Gordon, Augusta, Georgia; Carlisle
Barracks, Carlisle, Pennsylvania; Picatinny Arsenal, Dover, New Jersey;
Fort Eustis, Newport News, VA and Fort Story, Virginia Beach, VA; Fort
Bliss, El Paso, Texas and White Sands Missile Range, Las Cruces, New
Mexico. The Company also has partnered with the U.S. Department of the Navy
for the Navy Northeast Region Project, covering eight Navy bases in Maine,
Rhode Island, Connecticut, New York and New Jersey and with the Department
of the Air Force for the Air Education and Training Command (AETC) Group
consisting of four Air Force bases located at Altus Air Force Base, Altus
Oklahoma, Luke Air Force Base, Glendale, Arizona, Sheppard Air Force Base,
Wichita Falls, Texas and Tyndall Air Force Base, Panama City, Florida. In
addition, the Company recently announced that is has been selected by the
Department of the Navy to enter into exclusive negotiations for the
Southeast Region project covering 11 bases in South Carolina, Georgia,
Florida, Mississippi, and Texas.
About GMH Communities Trust
GMH Communities Trust (
http://www.gmhcommunities.com) is a publicly-traded
Maryland real estate investment trust (REIT). We are a self-advised,
self-managed, specialty housing company focused on providing housing to
college and university students residing off-campus and to members of the
U.S. military and their families residing on or near bases throughout the
United States. GMH Communities also provides property management services
to third-party owners of student housing properties, including colleges,
universities, and other private owners. The Company, based in Newtown
Square, PA, employs more than 2,150 people throughout the United States.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: Statements in this press release that are based on our current
expectations, estimates and projections about future events and financial
trends affecting us are "forward-looking statements." Forward-looking
statements can be identified by the use of words such as "may," "will,"
"should," "expect," "estimate" or other comparable terminology. These
statements are inherently subject to risks and uncertainties, including the
risks relating to our business presented in our filings with the Securities
and Exchange Commission. Forward-looking statements are made as of the date
of this press release, and we undertake no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/03-09-2007/0004543054&EDATE=SOURCE GMH Communities Trust
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Related links:
http://www.gmhcommunities.comhttp://www.gmhmilitaryhousing.com:nuke:
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