Forest City Military Communities Opens First New Privatized Homes for Navy Families

MILLINGTON, TN, Oct. 3 /PRNewswire/ -- Together with the United States Navy, Forest City Military Communities, LLC, today welcomed local officials and community leaders to celebrate the completion of the first new privatized homes (top right photo) for navy families at Mid-South.

"These new homes create much needed places for our nation's sailors to live," said Forest City Military Communities' Michael Defferding.

"Our partnership with the United States Navy has enabled us to bring the best of private sector business practices to our military and greatly improve the quality of life for some of the most deserving families in America.

"Their contribution to our nation during these times of difficulty is a true inspiration to us all."

Made possible by the Military Housing Privatization Initiative - the 50-year partnership agreement between the U.S. Navy and Forest City - provides families with the high-quality, affordable housing options that have been lacking in recent years.

A public/private venture (PPV) with the U.S. Navy, the housing redevelopment project will include a combination of demolition, renovation and new construction, resulting in a total of 318 military family homes.

Included in the total are 73 new homes and 58 renovated homes."This is the biggest change in our base infrastructure since BRAC '95.

But instead of widespread demolition, this project will revitalize the most important part of our Sailors' lives: A high-quality home for their families," said Capt. William McMasters, (top left photo) commanding officer, Naval Support Activity Mid-South.

Chamberlain-McCreery of Cordova, Tennessee is the project's general contractor. They are responsible for building the new homes.

Renovation work to homes is being completed by Atherton Construction, based in Las Vegas, Nevada. Rose Integrated Services of Covington, Tennessee is performing site work. Forest City has also retained MACTEC Engineering and Consulting to handle civil engineering and land design.

Forest City Military Communities, LLC, a wholly-owned subsidiary of Forest City Enterprises, Inc. focuses on developing, managing and maintaining high-quality communities for military members and their families.Forest City Enterprises, Inc. is a $10.9 billion NYSE-listed national real estate company.

The Company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate and land throughout the United States.

CONTACTS:

Susan Moore, Forest City Military Communities, office:+1-202-496-6629, cell: +1-301-512-8639; or

David Crenshaw, Public AffairsOfficer, Naval Facilities Engineering Command, +1-901-974-7978

Web site: http://www.forestcity.net/

Forest City Breaks Ground at Colorado Science + Technology Park at Fitzsimons

AURORA, CO/PRNewswire/ -- Developer Forest City Science + Technology Group has broken ground at the Colorado Science + Technology Park at Fitzsimons, (top right photo) a 184-acre business park dedicated to life science focused companies, by demolishing the old Fitzsimons smokestack to make way for new, state-of-the-art scientific facilities.

Plans call for Forest City's first life science building that will accommodate the growth of the region's existing life science industry as well as existing incubator tenants on site.

In addition, a Hyatt Place hotel and conference facility and an approximately 175,000 square-foot office building for University Physicians, Inc. will be developed.

The Fitzsimons Federal Credit Union will also break ground soon on a new facility.

In addition, Aurora Mayor Ed Tauer (top left photo) unveiled an updated economic study predicting $3.5 billion in annual economic output in 2008 and up to $4.5 billion in annual economic impact by 2013 from the former Fitzsimons Army Medical Center, which now includes the Park, the Anschutz Medical Campus, The Children's Hospital and Research Center, and the future Veterans Affairs Hospital.

"The build-out of the Colorado Science + Technology Park at Fitzsimons is an important part of a grand vision to bring science and business together in one square mile that is fast becoming one of the most advanced life science communities in the world," said Tauer.

"According to our latest economic study, developments at Fitzsimons and the Anschutz Medical Campus will yield 20,000 on-site jobs by 2013 and more than 43,000 on-site jobs when fully developed."

At full development, the 578-acre land parcel is projected to generate statewide totals of $11.5 billion in economic production, $4.3 billion in annual personal income, and nearly 100,000 jobs, according to the study prepared for the Fitzsimons Redevelopment Authority by Sammons/Dutton LLC.

The statewide figures include multipliers that account for ancillary commerce, employment and tourism that will be created throughout Colorado as a result of work originating from this life science campus.

The area is expected to reach full development between 2033 and 2038.

"We're inspired by the incredible concentration of brainpower and the important partnerships that will be possible between academia and private industry as companies locate to the Colorado Science + Technology Park at Fitzsimons," said University of Colorado President Bruce Benson (middle right photo) , who also spoke at the groundbreaking event.

"Forest City is proud to be part of a project that will so thoroughly transform the community through jobs and the economic and quality-of-life benefits that the park promises," said Forest City's Jim Chrisman. (bottom left photo)

CONTACT:

Claire Fisher, Forest City 303-382-1800 or Jill Farnham, Fitzsimons Redevelopment Authority 720-859-4105