Hunt Military Communities CEO Brian Stann said the company is within two months of finalizing a deal to take over the barracks at five locations around Hampton Roads. The deal includes tearing down aging facilities and building new housing, including for sailors at Newport News Shipbuilding.
The Navy first announced the project to WHRO in 2024. The company originally expected to finalize a deal last year. Roughly $400 million for the Navy’s share of the project was included in the defense bill passed in December. Hunt is in the final stages of securing a $1.4 billion in bonds to finance the rest of the project. Under the deal, the Navy will turn over existing barracks to the company, Stann said.
“Upon closing of this deal, the Navy will convey multiple facilities as part of this that will then go under renovation so they can be brought up to the same standard as the rest of these units across the project,” he said…