New Military Housing Development to Relieve Shortage in San Diego

SAN DIEGO — Construction officially kicked off today with a groundbreaking ceremony for The Village at NTC, a new 500-unit town home community for military families in San Diego. The Village is part of an innovative public/private venture (PPV) instituted by the military to rapidly relieve current housing shortages by utilizing the resources of private industry.

The Navy’s new partnership is with Lincoln/Clark, a joint venture between Lincoln Property Company of Dallas and Clark Realty Capital and affiliate Clark Realty Builders of Bethesda, Md. As of August 2001, Lincoln/Clark began developing and managing military family housing for sailors and Marines in the San Diego region. The partnership has raised more than $260 million that is being immediately invested to improve the quality of life for the thousands of military families confronting long commutes and rents beyond the reach of enlisted personnel.

“The economy in San Diego moves faster than the housing allowance,” said Bob Griffin, director of acquisitions for the Naval Facilities Engineering Command. “This new partnership will provide additional safe, high quality, energy-efficient, and well-managed housing for thousands of enlisted families presently living in high-cost or substandard housing.”

The largest initiative yet between the military and private developers ­ and the first of this size for the Navy ­ the PPV is now managing 2,660 existing family housing units; building the 500 new town homes at the Naval Training Center; and replacing 812 existing units at Cabrillo Heights in Serra Mesa with 900 new units. When complete, the military family housing portfolio will encompass 3,248 units.

The Naval Training Center (NTC) is located on San Diego Bay in the Point Loma neighborhood, approximately three miles north of downtown San Diego. The Village at NTC community is on the southeastern corner of Rosecrans and Nimitz boulevards, and it will include 7.2 acres of landscaped open areas; a central park and mini-parks; recreation facilities with tennis courts, a swimming pool and a gym; tot lots; and an elementary school site. Average monthly rent, based on the military’s Basic Allowance for Housing, is approximately $1,000 per month and includes an allowance for utilities.

Award-winning architectural firm Torti Gallas and Partners – CHK, Inc. of Silver Spring, Md., designed the two- and three-story Spanish Colonial town homes. The homes will average 1,450 square feet each and offer a range of floor plans, from 2 bedroom /1.5 bath units to 3 bedroom and loft/2.5 bath models. The town homes will be arranged in building clusters of two- to six-units, and offer rear, detached garages, formal dining rooms and breakfast nooks. Select units will also feature family rooms in addition to formal living areas. Redesigned streets will resemble those being joined in the established private neighborhoods in the adjacent Point Loma area.

The first town homes will be leasing in May 2002, and final completion of the community is scheduled for November 2003. First priority for the new housing will be given to current residents of the Navy’s Cabrillo Heights, which will be razed and rebuilt by the Lincoln/Clark PPV beginning in September 2002.

The asset and property management of the military housing portfolio is being handled by Lincoln Property Company, the nation’s third largest manager of multifamily units. Clark, the largest privately held general building contractor in the country, is managing the development, design and construction of the 1,400 new units.

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About Clark

Founded in 1906, the Clark organization has become one of the country’s premier developers of multifamily housing and is the largest privately held general building contractor in the nation. Clark is currently building the San Diego Padres stadium, the new $107 million Manchester Grand Hyatt in San Diego, and a new $83 million trolley station at San Diego State University. Clark is also performing a $113 million seismic retrofitting of the Los Angeles City Hall and a $51 million seismic replacement of the biomedical research laboratory at the University of California Los Angeles (UCLA) campus. The Clark companies are headquartered in Bethesda, Md., with regional offices strategically located throughout the United States.

About Lincoln Property Company

Established in 1965, Lincoln Property Company is one of the nation’s top residential and commercial developers with properties in 200 cities across the country. A full-service real estate firm, Lincoln has developed over 98 million square feet of commercial space and 164,000 multifamily residential units. The company also manages over 100,000 residential units and 150 million square feet of commercial space and recently began developing residential and commercial real estate internationally.