Military Retirement Community On Track with Expansion

CEO Gary Alkire Sees Upside to Building During Challenging Economic Times

SAN ANTONIO, Texas: Expand in this economy? Some organizations are hesitant to make big moves right now, as evidenced by the national drop in commercial and residential construction. Many businesses are standing on the sidelines and waiting for the dust to settle in 2010. According to an outlook report from McGraw-Hill Construction titled "2009 Texas Construction Outlook: Mid-Summer Update," the value of construction starts statewide will decline 21 percent, to $49.8 billion this year, the steepest drop since 1967.

Air Force Village, a retirement community for retired military officers and their families, is continuing with their planned $145 million expansion, which includes a new 16th floor restaurant, Ranch Homes, Hill Residences and a Town Square living concept on both campuses.

"We didn't hesitate to keep going for several reasons, one of which being that there is more labor available as a result of general industry slowdown," said Gary Alkire, Major General USAF, Ret., president and CEO of Air Force Villages. "We may even complete construction ahead of schedule because of the abundance of labor."

For Air Force Village I, located near Lackland Air Force Base on Ravenswood Drive, the plans call for a renovation of the main entrance and the addition of Hill Residences - apartment homes integrated naturally into a hillside on campus. The Hill Residences will be composed of four homes on each level in three- and four-story designs. They will feature wrap-around porches, abundant natural lighting through corner windows, modern appointments and interior garage parking. A groundbreaking ceremony for the Hill Residences has been scheduled for October 15.

Other construction at Air Force Village I slated to begin soon is the new Town Center, which will be located on the ground floor of the main building. It will feature a casual bistro as well as a fine dining restaurant, boutiques and other services. Construction of a Sky Lounge Restaurant on the 16th floor of the high-rise apartment building is also set to begin.

"We've seen much lower materials prices, which is another incentive to keep moving forward with our plans," continued Alkire.

Air Force Village II, a few miles west on John D. Ryan Boulevard, is also in on the action, where the main lobby is currently under renovation and slated to be complete in October of this year. When complete, the lobby will feature a Town Center that will include a coffee bar, Internet access point and bistro.

Additionally, site work has started for the new Ranch Homes, with the first home construction slated for November. The garden-style, stand-alone homes will feature backyards, spacious interiors, gourmet kitchens, spas and luxury master bath packages, a friendly neighborhood atmosphere with sidewalks, old-fashioned front porches and beautiful landscapes.

All this work may seem overwhelming, even in a booming economy. But Alkire sees no better time than now to start and continue with the exciting expansion of the community.

"We are using the downturn to our advantage," said Alkire. "The combination of plentiful labor and low materials prices won't be around forever, so we've embraced this opportunity and are taking full advantage of it."


ABOUT AIR FORCE VILLAGE
Founded by the Air Force Officers' Wives' Clubs, Air Force Village is a retirement community with two campuses located in San Antonio for retired officers and their parents or spouses from all branches of the military. Air Force Village I, off of Ravenswood Drive, and Air Force Village II, off of John D. Ryan Boulevard, offer a full continuum of care, including apartments, freestanding homes, assisted living, skilled nursing and memory support, if ever needed. Air Force Village is the first military-related retirement community to be accredited by the Continuing Care Accreditation Commission.