BNAS housing to hit the market
Balfour Beatty PLC, the owner of Navy housing units in Brunswick, is planning to begin marketing hundreds of them next month, prompting concern from redevelopment officials and Realtors that the local housing market will suffer.
Balfour Beatty, which earlier this year purchased the Brunswick Naval Air Station housing, told the town it will begin marketing about 570 units in Brunswick as rental properties as they become available, according to The Times Record. The units will be offered first to Navy personnel, reservists, retired military and other federal employees, and then to the general public.
Steve Levesque, executive director of the Midcoast Regional Redevelopment Authority, which is charged with redeveloping the base after it closes in 2011, told the paper the organization is worried about the impact the "fairly significant surge" of rental properties will have on the market, as an additional 1,200 other rental units not owned by Balfour Beatty are also anticipated to go on the market as the Navy leaves Brunswick. An oversupply of rental units could leave portions of Brunswick "a ghost town," Kyle Rogers, president of the Merrymeeting Board of Realtors, told the paper.
The first Navy personnel left the air station this week, and all personnel are scheduled to leave the base by the end of 2009.
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