Balfour Beatty confirms £103m US housing deal

Balfour Beatty has reached financial close on a £103m housing privatisation project at West Point in New York.

The firm said that Balfour Beatty Communities, its US PPP concession arm, had finalised plans with the US army for the privatisation project.

The 50-year scheme will start with an eight-year initial development period, with £103m-worth of design, construction, renovation and operation of 824 housing units, inclusing the restoration of 416 'historic homes'.