Hunt Military Communities joined Navy and Department of War leaders in Norfolk on Friday to celebrate the closing of Homeport Hampton Roads Phase II, a 1.7 billion dollar development programme with the Department of the Navy. Financial close was achieved on September 29, 2026, the company said in its release.
The programme will construct approximately 5,470 new beds and improve or integrate approximately 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. Combined with the existing Phase I portfolio, which Hunt has served since 2007, the completed project will provide approximately 11,760 beds under a single integrated structure.
The agreement is the Navy’s largest privatisation of barracks and supports the service’s Quality of Service initiative and the Chief of Naval Operations’ No Sailor Lives Afloat initiative. The project is financed with a majority of private capital rather than upfront taxpayer funding, an approach the Navy estimates will save taxpayers more than 325 million dollars. Hunt will develop, build and operate the housing under a long term partnership with the Navy.
Acting Secretary of the Navy Hung Cao and Under Secretary of War Michael P. Duffey attended the celebration alongside members of Congress and Newport News mayor Phillip Jones, and Hunt president and chief executive Brian Stann. The political attendance matches the financial structure: a privatised housing programme of this size succeeds or fails on whether private delivery stays faster and cheaper than the appropriations route it replaced.