BRAC BRINGS BILLIONS
One of the mainstays of the Central Texas economy and real estate market is the military population of San Antonio, Texas. Everything from US Air Force basic training to the world renowned BAMC to flight training are big draws for population changes in the Alamo City and surrounding areas. While word of BRAC (Base Closure and Realignment Commission) sometimes brings thoughts of loss to some communities, BRAC is bringing growth to the San Antonio area this time around. This article recently ran in the RECON e-newsletter.
SAN ANTONIO (San Antonio Express-News) - With a first wave of 12,500 military personnel expected to flood Alamo City next year, preparatory construction projects are reaching a peak to accommodate the influx.
The Defense Base Closure and Realignment Commission (BRAC) and related military ventures have spurred over $2 billion in awarded construction projects so far, with at least an additional $300 million in awarded contracts expected before the project's 2011 completion.
The work on 78 facilities includes construction of an aircraft taxiway at Randolph AFB, an urban assault course at Camp Bullis, a bridge at Fort Sam Houston and building renovations at Lackland AFB.
The Military Transformation Task Force estimates that Fort Sam Houston - home to most of the projects - will have accounted for $6.7 billion in economic impact on the San Antonio area and over $10 million in sales tax revenues.
BRAC is part of a larger military construction program that will bring ten million square feet of space and over $3 billion in contracts to San Antonio.
This should be a great shot in the arm that is the Central Texas economy and help continue the stablization of the local housing market. For more information on relocation to the San Antonio and surrounding area, contact EXIT Hill Country Realty.
