UK contractor will design, construct and renovate accommodation at historic West Point

Balfour Beatty has reached financial close on a $206m (£103m) housing privatisation project at the West Point military base in New York.

The company has agreed with the US Department of the Army to oversee the construction and maintenance of approximately 824 units at West Point over a 50-year period. Included in the contract will be the restoration of 416 historic homes.

Ian Tyler
Tyler: "further confirmation of our leading position"

West Point is the US's oldest continuously occupied military post, established in 1778. It was the site during the revolutionary war where the US general Benedict Arnold attempted to surrender to the British.

The contract is Balfour Beatty's second notable military privatisation contract in the US in recent months. In July, it reached financial close on a $410m (£205m) project for the Department of the Air Force.

Ian Tyler, chief executive of Balfour Beatty, said: “Reaching financial close on this concession, following on from our recent success in the $410m AMC West US Air Force project, provides further confirmation of our leading position in the US military accommodation market.

"We recognise the historic role that West Point has played in the history of the United States and look forward to providing superior housing and services to the military families of West Point.”