Hunt Military Communities Starts 2nd Phase of Virginia Naval Housing
An additional 2,600-bed renovation effort will house unaccompanied sailors in the area.
Hunt Military Communities has started work on Homeport Hampton Roads Phase II, a 5,470-bed military housing community in Norfolk, Va. In addition to the new construction, the developer will improve about 2,600 existing beds for unaccompanied sailors at Naval Station Norfolk, Joint Expeditionary Base Little Creek, Naval Air Station Oceana and in downtown Newport News, Va.
HMC, which delivered the first phase of the project and has serviced the portfolio since 2007, will develop, build and operate the project under a long-term partnership with the Department of the Navy. Combined with the completed Homeport Hampton Roads Phase I portfolio, the project will ultimately provide about 11,760 beds under a single structure.
The total project costs are expected to reach $1.7 billion. The new communities will be occupied on a building-by-building basis, a process that’s expected to begin in August of 2029.
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The project is financed with a majority of private capital rather than up-front taxpayer funding. The Navy estimates that that approach will save taxpayers more than $325 million.
Sailors will live in fully furnished apartments with kitchens and private bathrooms. Amenities will include fitness centers, swimming pools, study lounges and sport courts.
Nearby Hampton Roads, Va., is home to the largest naval base in the world, and the Homeport Hampton Roads development is the Navy’s largest privatization of barracks. The property supports the Navy’s Quality of Service initiative and the Chief of Naval Operations’ No Sailor Lives Afloat initiative, which are focused on ensuring sailors have access to quality accommodations ashore.
Recent military housing deals
HMC is a specialist in military housing, owning, developing, and operating properties nationwide. About 175,000 residents live in its more than 60,000 residential units, including members of the U.S. Army, Marine Corps, Navy, Air Force, and Space Force.
In January of last year, the company acquired full ownership of Homeport Hampton Roads. Before that, HMC completed the purchase of Atlantic Marine Corps Communities from Lendlease. The acquisition consisted of about 7,900 units, serving about 24,000 residents from eight major military installations.
Another major player in the military space is The Michaels Organization. That company began investing $500 million in its military housing portfolio in 2024, in a process that will continue until 2029, across seven Army installations in various states.
