Lendlease : and Fort Campbell break ground on $87.4M Housing Project

Lendlease, in partnership with the United States Army at Fort Campbell, KY, recently celebrated the beginning of a large-scale development project planned for its privatized military housing community, Campbell Crossing. The March 4, 2021 groundbreaking celebration was held on the future site of Campbell Crossing's newest 144-home neighborhood, Erevia Park, to be built for junior enlisted service members and families.

'We are thrilled to come together and celebrate the commencement of the $87.4 million housing development project,' said Phillip Carpenter, chief operating officer for Lendlease Communities. 'Since 2003, we have provided housing to our service members and Families at Fort Campbell, and we are incredibly proud to continue in our commitment of delivering homes and amenities residents both desire and deserve.'

The improvements, which were approved by the Army last year, will include construction of 144 new three- and four-bedroom homes, majorly renovate 170 homes within the New Hammond Heights neighborhood, and demolish 250 homes in La Pointe Village through 2025.

The $87.4 million investment in the Fort Campbell community is just the start of many exciting improvements to come. Lendlease, in partnership with the United States Army, recently announced they have obtained lender commitment to provide additional private capital of $1.1 billion to invest across the Lendlease Army housing portfolio.

'While plans for the recently announced $1.1 billion investment are being finalized, this investment has potential to construct 500 new homes to replace legacy inventory, as well as renovate nearly 500 existing homes here at Fort Campbell to better meet the expectations of our military families for years to come,' said Carpenter.

To find out more about the future community development plans at Fort Campbell, please click here.

ENDS

For additional information, contact:
Meryl Exley
Director of Marketing, Communities
T 615 324 8839 M 615 481 0497
[e-mail]

About Lendlease
Lendlease is a leading global real estate group with operations in Australia, Asia, Europe and the Americas. Our purpose is to create value through places where communities thrive.

Headquartered in Sydney, Australia, and listed on the Australian Securities Exchange, Lendlease has approximately 9,500 employees internationally.

Our core capabilities are reflected in our operating segments of Development, Construction and Investments. The combination of these three segments provides us with a sustainable competitive advantage and allows us to provide innovative integrated solutions for our customers.

In the US, Lendlease's Communities business is one of the nation's leaders in public/private community development. We manage one of the largest military housing portfolios in the US and are the Army's exclusive partner for lodging. With a focus on creating sustainable value, Lendlease creates communities that regenerate our environment, enrich people's lives and foster economic growth. Lendlease has worked extensively with the Department of Defense through the Military Housing Privatization Initiative (MHPI), a program that provides for the transfer of military housing assets to private sector companies. With over 40,000 residential units, 192 apartments and more than 12,000 hotel rooms in its portfolio, Lendlease will finance, develop, build, renovate and operate these sites for at least 50 years.

www.lendlease.com