Freddie Touts Military Housing Investments

Freddie Mac has announced investments totaling approximately $326 million in military housing revenue bonds that it said will provide more than 11,000 units of new and rehabilitated affordable rental housing for military personnel and their families.One investment, totaling $210 million, was made in a Hawaii-based project that will finance the construction and rehabilitation of approximately 8,000 units of single-family and duplex housing, Freddie Mac reported. The housing will be spread among seven Army bases in Hawaii and will involve joint public-private ownership between the Pentagon and several developers. The second investment will take place at Fort Drum in New York, home of the 10th Mountain Division, which has been deployed to every major U.S. conflict since 1980, Freddie Mac said. The project will cost $116 million and will create more than 3,100 new and rehabilitated housing units consisting primarily of two-, three-, and four-bedroom apartments.