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Public Private Strategies

Restructure of Northeast Regional Housing
Department of the Navy

  • BRAC 2005 Commission’s findings called for the closure of NAS Brunswick, realignment at NAVSTA Newport and reduced housing requirements at NSB New London.  In total, the effect of the 2005 BRAC reduced project inventory by 1,077 homes, including the divestiture of all homes at NAS Brunswick.
  • On behalf of the Navy, BBPC worked with the private partner and bondholders to refinance the project and bifurcate/amend business documents to address the $485M in reduced scope and required redemption of debt
  • Modifications supervised by the BBPC Team allowed the project resize and provided the flexibility needed to accomplish the goals of the Navy in light of the recommendation by the BRAC Commission