San Diego, CA, Jan. 19, 2022 (GLOBE NEWSWIRE) -- Liberty Military Housing (LMH) continues to deliver on its commitment to improving military housing as part of the Military Housing Privatization Initiative (MHPI) with the announcement of a $31+ million dollar reinvestment and redevelopment project for the Capehart community in Yuma, Arizona. Capehart is one of several LMH communities that serve over 820 military families at the Marine Corps Air Station (MCAS) Yuma installation.
“The project at MCAS Yuma is a great example of the MHPI program at its best. Residual cash flow that has been saved in reinvestment accounts is now being deployed to redevelop the Capehart Housing Area with new construction homes. It is great to see this project come to fruition and an honor to be a part of it.”
Capehart's project scope includes demolishing and removing existing homes, multiple streets, and above and below-ground utilities in the community. After demolition is complete, LMH will construct new streets, homes, install new utilities, and develop common areas that best suit the needs of today’s military families. Liberty anticipates construction taking 24 months.
“We feel privileged to have the opportunity to redevelop the homes in the Capehart community. LMH is keenly aware that military families deserve to live in quality home environments. We actively look for ways to ensure that each family has access to a home and community resources that support this mission," said Jill Dorflinger, Regional Vice President of Southwest Marines.
As part of the MHPI, Liberty Military Housing uses net operating revenues to improve existing homes and infrastructure and build new assets for communities. The cash flow and returns from the partnerships are reinvested in the program, ensuring the long-term financial health of the MHPI.
About Liberty Military Housing
Liberty Military Housing (LMH), formerly known as Lincoln Military Housing, is the leading privatized housing provider and the largest employee-owned company in the multifamily industry. LMH provides more than 36,000 homes in over 200 communities across ten states and the District of Columbia. We are proud of the award-winning communities we build and manage and continue looking ahead to new ways of serving military families, our team, and our partners. Our mission is to contribute to military readiness and morale by ensuring military families live in homes and communities built and maintained to the highest standards. LMH was formed in 2001 through a Department of Defense (DoD) contract with the parent company, Lincoln Property Company.
For more information about Liberty Military Housing, please visit www.livelmh.com.
