Hunt Military Communities Completes $1.7 Billion Hampton Roads Housing Program Financing
Hunt Military Communities (HMC) has joined U.S. Navy and Department of War leaders, elected officials, and community representatives to celebrate the financial closing of Homeport Hampton Roads Phase II, a major military housing development program valued at $1.7 billion. The initiative, developed in partnership with the Department of the Navy, will deliver thousands of new beds and improve existing accommodations for unaccompanied Sailors across the Hampton Roads region of Virginia.
Financial close for Phase II was achieved on September 29, 2026, marking a significant milestone in the effort to expand and modernize housing for Navy personnel. The program will construct approximately 5,470 new beds and improve or integrate approximately 2,600 existing beds at Naval Station Norfolk, Joint Expeditionary Base Little Creek, Naval Air Station Oceana, and in downtown Newport News.
When combined with the existing Homeport Hampton Roads Phase I portfolio, the completed program will provide approximately 11,760 beds through a single integrated structure. The development is intended to address housing requirements for unaccompanied Sailors while supporting the Navy’s broader efforts to improve living conditions and quality of service for its personnel.
Navy and Community Leaders Mark Project Milestone
The financial closing was celebrated at an event attended by senior government officials, military representatives, elected leaders, and executives from Hunt Military Communities. Speakers included Acting Secretary of the Navy Hung Cao, Under Secretary of War Michael P. Duffey, Congressman Rob Wittman, Congresswoman Jen Kiggans, Newport News Mayor Phillip Jones, and Brian Stann, president and chief executive officer of Hunt Military Communities.
Their participation highlighted the importance of the housing initiative to military readiness, personnel welfare, and the surrounding communities.
Homeport Hampton Roads Phase II represents the Navy’s largest privatization of barracks, bringing together public-sector oversight and private-sector financing, development, and operational capabilities. Through the long-term partnership, HMC will be responsible for developing, building, and operating the project.
The company previously delivered Phase I and has served the portfolio since 2007, providing experience in managing military housing facilities and supporting the accommodation needs of Navy personnel.
Expanding Housing for Unaccompanied Sailors
The project is designed to provide improved housing options for unaccompanied Sailors stationed at key Navy installations and locations throughout Hampton Roads. The planned construction and renovation work will increase available capacity while addressing the condition and functionality of existing accommodations.
The initiative directly supports the Navy’s Quality of Service initiative and the Chief of Naval Operations’ No Sailor Lives Afloat initiative. The latter focuses on ensuring Sailors have access to quality housing ashore.
Access to suitable housing is an important part of supporting military personnel, particularly those assigned to major installations where accommodation demand can be substantial. By increasing the number of beds and improving existing facilities, the Homeport Hampton Roads program aims to help the Navy meet its housing needs through a coordinated regional approach.
The integrated structure will also bring the Phase I and Phase II portfolios together under one program. This approach is intended to support the long-term development and management of the housing facilities across the participating locations.
Private Financing Expected to Reduce Taxpayer Costs
A key feature of Homeport Hampton Roads Phase II is its financing structure, which relies primarily on private capital rather than requiring the full development cost to be funded through upfront taxpayer spending.
According to the Navy, this approach is expected to generate taxpayer savings of more than $325 million. The financing model allows the project to combine private investment with a long-term partnership arrangement for the development and operation of the housing portfolio.
The program demonstrates how privatization can be used to support large-scale military infrastructure requirements. Under the agreement, Hunt Military Communities will undertake the development and construction work while also assuming responsibility for operating the completed facilities.
The arrangement places the company in a long-term role in the delivery and management of housing for unaccompanied Sailors. Its previous involvement in Phase I provides continuity as the Navy advances the next stage of the program.
The project’s scope includes both new construction and improvements to existing accommodation facilities, enabling the initiative to address multiple housing requirements within a single coordinated plan.
Construction Scheduled to Begin in October 2026
Construction on Homeport Hampton Roads Phase II is scheduled to begin in October 2026. New buildings are expected to become available for occupancy in stages, with the first releases planned to begin in August 2029.
The phased delivery approach will allow completed buildings to be brought into service progressively rather than waiting for the entire development program to finish. This will help support the transition to upgraded accommodation as individual facilities become ready for residents.
In Newport News, construction will follow a specific sequence designed to manage the relocation of existing residents. Sailors currently living in Huntington Hall will first move into newly constructed rooms. The existing building will be demolished only after residents have relocated.
This sequence is intended to coordinate the transition while maintaining appropriate accommodation arrangements for affected personnel.
The phased approach will be an important part of implementing the project across multiple locations, each with its own construction and operational requirements.
Long-Term Commitment to Military Housing
The closing of Homeport Hampton Roads Phase II marks a major step in the Navy’s plans to expand and modernize housing for unaccompanied Sailors. With approximately 5,470 new beds planned, around 2,600 existing beds scheduled for improvement or integration, and a combined portfolio expected to provide approximately 11,760 beds, the program represents a substantial investment in military accommodation.
For Hunt Military Communities, the agreement extends its established involvement in the Hampton Roads housing portfolio and reinforces its role in delivering military housing infrastructure through public-private partnerships.
As construction begins and buildings move toward phased occupancy, the project is expected to support the Navy’s housing objectives while contributing to long-term improvements in the living environment for Sailors serving across the region.
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