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Forest City Enterprises established Forest City Military Communities, LLC, (FCMC) in 2003 in order to
meet a growing demand for the privatization of America’s military housing facilities under the Department
of Defense’s Military Housing Privatization Initiative. Since its inception, FCMC has successfully pursued
ventures nationwide. In May 2004, FCMC assumed operations of 2,000 existing homes for Phase I of
the Navy’s privatization in Hawaii, delivering 290 new homes as of May 2006 out of a planned 910.
In December of 2005, FCMC signed a partnership with the Department of the Navy for the renovation
and development of over 2,700 existing homes comprising the Navy Midwest Region Housing project.
Construction of 750 new homes and amenities is slated to begin in 2006.
FCMC’s parent company, Forest City Enterprises, Inc. (FCE), is a well-established real estate company
with a proud history and significant experience necessary to support the development and management
of military housing communities. Founded in 1921 by the Ratner family, FCE’s real estate portfolio
includes interest in over 240 projects, including commercial and residential developments across
the country. The company’s three strategic business units include residential, commercial, and
land development groups.
Forest City develops, owns, manages and maintains its real estate properties as the basis of its business
model. The firm owns approximately 37,000 homes in 123 communities. Through the Forest City
Residential Management, Inc. (FCRMI) division, the firm currently manages 36,000 apartment homes
across the country, including the 3,610 homes in the Hawaii and Great Lakes Family Housing
Privatization projects.
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