Forest City Military Communities has spent more than $1.7 billion to build and renovate 3,085 military family homes on the island of Oahu. The project started in 2004, and is nearing competition as the last set of homes have been demolished on the Kaneohe Marine Corp Base to make room for 218 brand new homes to be completed by April 2014. Marine Colonel Brian Annichiarico stated, ”It means a lot to the Marines and their families to have safe, warm, efficient, great places to live.”
Forest City currently manages more than 6,300 Navy and Marine Corp homes in 36 neighborhoods on the islands of Oahu and Kauai. The company has signed a 50-year partnership (until 2054) with the U.S. Government where military member who wish to live in these neighborhoods, turn over their housing allowances as rent to Forest City. In a similar agreement, Lend Lease, will be spending $1.8 billion to build, renovate and manage 7,756 Army homes and 1,356 Air Force homes in Hawaii.
Source: Honolulu Star Advertiser, 4-16-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
