Z -- San Diego Unaccompanied Housing Privatization Project

Washington, D.C. - The Department of the Navy (DoN) has selected the development firm of California Naval Communities, LLC, to participate in exclusive negotiations for a unique and innovative Public/Private Venture that will provide affordable and quality housing for unaccompanied military members in the San Diego area. California Naval Communities, LLC is a wholly owned subsidiary of Clark Realty Capital. Exclusive negotiations to finalize project and partnership documents will take place during the next several months. The Naval Facilities Engineering Command Southwest, is managing the exclusive negotiations for this project. Construction is expected to commence in early 2006 after Congressional notification and execution of the project partnership documents. For more information on the Navy’s Public Private Venture program visit http://ppv.myhsg.navfac.navy.mil/