Picerne Military Housing. 2 Residential Communities Initiative Military Housing Privatization (MHPI)...

Picerne Military Housing

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Residential Communities Residential Communities InitiativeInitiative

• Residential Communities Initiative • Military Housing Privatization (MHPI) Act - 1996• Eliminate Inadequate housing through public-private partnerships• Leverage Army assets to attract private capital to support the

operation, renovation, and construction of housing for the long term

• Over 80,000 homes in the Military Family Housing portfolio

• APG -RCI Visiono “PARTNERSHIP “with the APG Garrison o Enhance quality of life for APG Familieso Long-term partnership with developer who has vision,

commitment, and financial ability to provide sustainable housing in quality neighborhoods.

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Introduction to PicerneIntroduction to Picerne

• Families First Mission

• Vertically integrated

• Dedicated partner of the Army at Forts Meade, Bragg, Rucker, Riley, Polk, Sill and APG with approximately ~20,000 homes.

• Picerne in Marylando Involves ~17% of Picerne Portfolioo Managing over 3,500 homes

®

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Program OverviewProgram Overview

• Initial Development Period - 6 Yearso 210 New homeso 1 Neighborhood Centero 102 Historic Renovationso 65 Major Renovationso Deferred Maintenanceo Over 600 demolitions

• Secondary Development Period – 44 Yearso Capital Repair/Improvemento Renovationso New Construction

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Property ManagementProperty Management

• Professional management and maintenance teams focused on Customer Service:o Quality customer service o Building a sense of community

• 24/7 Maintenance Services to improve the quality of lifeo Grounds Maintenance including landscaping and weather-related clean upo HVACo Plumbingo Paintingo Cleaningo Carpetingo Pest Controlo Electricalo Preventative Maintenanceo Ongoing energy-efficiency upgrades

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Construction and DevelopmentConstruction and Development

• Deferred Maintenanceo Interior and Exterior o Painting, New Flooring, Lighting, Finishes/Appliances,

Landscaping/Curb Appeal

• New Home Construction

• Historic Home Renovations

• Site Work

• Major Renovations

• Ancillary Construction

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Impact to Local CommunityImpact to Local Community

• Small business opportunities in Property Management, Construction and Development providing a direct benefit to local communities

APG, MD

o 80% ($68 million) of the Project’s development costs are spent on local, small and disadvantaged businesses.

o $81 million in development costs and $28.5 million in operating expenses in the first 6 years.

o 65% of the construction subs in place today are local Small Businesses