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Maryland fort to see construction of $72M apartment complex

Maryland's Fort Meade is expected to be home to a new 14-building apartment facility by the end of 2013. According to a garrison commander at Fort Meade, the $72 million project will be funded by a public-private partnership with Picerne Military Housing. He explained that the military's "dwindling resources" would not have allowed it build the complex without assistance, adding that it will provide accommodations to service members at no cost to the government. The commander said that the partnership will help Fort Meade give its troops the "high-quality homes they deserve."

Finding and securing construction financing for Commercial real estate projects such as this can be legally complex, making it crucial for those engaged in such endeavors to seek the counsel of a qualified legal professional specializing in business and commercial law.

The complex, which will be named Reece Crossings, is set to offer 432 one and two-bedroom housing units to about 816 single, junior service members. According to Picerne Military Housing's parent company, Corvias Group, each apartment will have floor plans ranging from 1,100 to 1,200 square feet and will be fully furnished. Additionally, the complex will include an area for grilling, a clubhouse with games and other entertainment, and indoor and outdoor areas designed for exercise and recreational activities.

Corvias released a statement regarding the project in which Picerne's managing director shared the company's excitement in offering service better housing to service members of all military branches. He added that the partnership between Fort Meade and Picerne will "help solve the financial challenges that have restricted Fort Meade's ability to provide new housing construction and maintenance." He and the project's coordinators hope the project will help the military attract and keep new, younger service members.

Source: The Baltimore Sun, "New Fort Meade housing unit in public-private partnership," Steve Kilar, Dec. 21, 2012

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