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2026
Mar. 13, 2026

Balfour Beatty Communities Completes $444 Million Refinancing to Advance Fort Carson Housing Program, Marking a New Era of Development and Operations

Balfour Beatty Communities Completes $444 Million Refinancing to Advance Fort Carson Housing Program, Marking a New Era of Development and Operations

MALVERN, PA - March 13, 2026 - Balfour Beatty Communities recently completed a $444 million refinancing of its Fort Carson military housing project, strengthening the long-term financial foundation of the community and enabling a significant expansion of new construction and reinvestment efforts in support of service members and their families.

The proceeds from the refinancing will fund a multi-year, phased redevelopment program at Fort Carson, including the demolition of approximately 300 older homes, the construction of close to 400 new, modern residences, and the renovation and modernization of an additional 334 existing homes. This work will be completed in phases commencing in May 2026 and extending through 2030, ensuring continuity of housing availability while improving quality, durability, and long-term sustainability across the installation.

This next phase builds upon an active and ongoing redevelopment effort at Fort Carson. To date, Balfour Beatty Communities has overseen the demolition of 248 older homes and the completion of 56 new residences, with 24 additional homes currently under construction and scheduled for delivery in October 2026. The new financing provides the flexibility and capital required to extend this momentum and significantly scale the modernization of the community.

The Fort Carson project includes more than 3,200 homes and remains one of the Army’s largest and most important family housing communities. Combined, these investments represent one of the most comprehensive housing reinvestment efforts undertaken at the installation, supporting readiness, resilience, and long-term asset stewardship under the Military Housing Privatization Initiative (MHPI).

“The proceeds generated by this project refinancing creates new opportunities to enhance housing at Fort Carson,” said Jennifer Hill, recently announced as the new President of Military Housing for Balfour Beatty Communities. At Fort Carson, we are already actively building new homes and investing in the future of the installation. This transaction allows us to build on that momentum as we continue advancing the organization’s ongoing transformation -- one driven by disciplined execution and a strengthened commitment to delivering for military families.”

Commenting on the announcement, Mr. David H. Dentino, Deputy Assistant Secretary of the Army for Installations, Housing and Partnerships, said: “This investment by Balfour Beatty Communities is a meaningful step forward for the Fort Carson community. Providing high-quality, modern housing is a critical component of our commitment to our soldiers and their families. When our service members have a safe and reliable place to call home, it enhances their well-being and directly supports our mission readiness. We are confident this new capital will build on our shared progress, ensuring Fort Carson remains a premier installation for our nation's heroes to live and thrive."

Balfour Beatty Communities will continue to work closely with Army leadership and installation stakeholders to ensure housing investments align with mission requirements, resident needs, and long-term asset stewardship.

About Balfour Beatty Communities Balfour Beatty Communities is an active owner and operator of residential real estate in the multifamily, student and military housing sectors across the United States. Since its inception in 1999, Balfour Beatty Communities has invested in nearly 100 properties representing more than $7.9 billion of gross asset value. Our broad in-house expertise includes decades of acquisition, development, finance, renovation, leasing and property/facility management experience. Leveraging this extensive expertise and a customer service-focused approach, Balfour Beatty Communities seeks to create value in its real estate projects while delivering exceptional living experiences. Balfour Beatty Communities is a subsidiary of Balfour Beatty Investments, and Balfour Beatty plc, a leading international infrastructure group. For more information, visit balfourbeattycommunities.com.

About Balfour Beatty Investments Balfour Beatty Investments is a leading global infrastructure investor, developer, and operator with a long-standing presence in U.S. military housing, student housing, and public-private partnership infrastructure. The company focuses on delivering long-term value through disciplined investment, operational excellence, and strong public-sector partnerships.

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