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March 26, 2009
Clark and the Navy Celebrate Grand Opening of Pacific Beacon Project

Ribbon-Cutting and Dedication Ceremony Honor Fallen Navy SEALS

SAN DIEGO – The Department of the Navy and Clark Realty Capital celebrated the grand opening of Pacific Beacon today at Naval Base San Diego. As the nation’s first large-scale privatized housing community for unaccompanied military personnel, Pacific Beacon sets a new tradition in excellence by offering luxury living to single service members stationed in the San Diego metro area. The ceremony included a ribbon-cutting and dedication ceremony in which Pacific Beacon’s new high-rise buildings were named in honor of three fallen Navy SEALs. Remarks were made by Admiral Patrick M. Walsh, Vice Chief of Naval Operations; Rear Admiral Leendert R. "Len" Hering, Sr., Commander, Navy Region Southwest; Rear Admiral Edward G. Winters, III, Commander, Naval Special Warfare Command; and Bryan Lamb, development executive of Clark Realty Capital.

"Our partner Clark Realty has built The Navy an enduring source of pride and given us the opportunity to honor the memory of our fallen shipmates–Tom Retzer, Danny Dietz, and Matt Axelson–in a way that demonstrates world-class commitment to, and a covenant with those in our trust, while ashore and at sea," said Admiral Walsh, Vice Chief of Naval Operations.

The three fallen Navy SEALs honored during the Pacific Beacon dedication include Matthew Gene Axelson, Danny Phillip Dietz, and Thomas Eugene Retzer. Highly decorated and regarded for their valor and courage during combat, Retzer lost his life while supporting Operation Enduring Freedom outside Gardez, Afghanistan 2003, and Axelson and Dietz were mortally wounded in Afghanistan in 2005 while supporting the Global War on Terror. During the dedication ceremony, family members of the three service members spoke and assisted all three of the men’s SEAL teammates in the unveiling of each of the building nameplates.

"Pacific Beacon is an important improvement in the quality of life for single Sailors in San Diego," said Rear Admiral Hering, Commander, Navy Region Southwest. "The project has also had a tremendous impact to the local economy. More than $320 million was driven into the local economy through building contracts, vendor contracts, services and supplies. During its construction phase, Pacific Beacon was the largest construction project in San Diego County, providing more than 1,000 local construction and service jobs."

The three luxury high-rise residences will serve as home to over 1,800 unaccompanied service members stationed in the San Diego metro area. Developed through a public-private venture between the Department of the Navy and Clark Realty Capital, Pacific Beacon opened its first building to residents in December of 2008. The entire project achieved substantial completion on March 12, 2009 - three months ahead of schedule. The community constructed by Clark Construction Group and Clark Builders Group features 941 dual master suites and unique, resort-style amenities that rival any luxury high-rise apartment building in San Diego. The units are all priced at or below the Basic Allowance for Housing (BAH) rates of qualified residents.

“We are thrilled to deliver this first-of-its-kind luxury community to San Diego’s deserving single Sailors,” said Lamb. “To also have the opportunity to dedicate each of the Pacific Beacon buildings to three of our nation’s heroes is a true honor and a legacy that we are proud to uphold.”

Beacon’s amenities to foster a sense of privacy and relaxation for service members when they are both off the job and returning from deployments. A “Sky Terrace” heated pool and hot tub on the 9th floor and the “Beacon Room” rooftop lounges with fire pits, outdoor seating, and barbecues on the 20th floor serve as the project’s signature amenities. A WiFi café, game rooms, poker room, grand lobby with large indoor fireplace, and courtyard with grill areas and outdoor fireplace provide additional leisure areas. The project also appeals to recreational enthusiasts with three fitness centers, 2 sand volleyball courts, 2 basketball courts, 2 horseshoe pits, a running track and a sports field. Continuing education, noted as a high priority by service members looking to increase their rank, is serviced in the community through a unique partnership with the Navy College and their member institutions. Sailors will have access to numerous classrooms, study areas, and computer labs throughout the property.

About Clark Realty Capital

Clark Realty Capital (CRC) is a fully integrated national real estate company offering a broad base of services including capital markets, development, construction, property management, and investment management. The Army, Navy, Air Force, and Marines are leveraging the ingenuity and assured performance of CRC at 12 military installations throughout the United States. Upon completion of current military projects, CRC will have built or renovated over 34,000 homes with a development value in excess of $4.9 billion. For more information, visit www.clarkrealtycapital.com.

About NAVFAC

Innovation. Leadership. Performance. The Naval Facilities Engineering Command (NAVFAC) manages the planning, design, construction, contingency engineering, real estate, environmental, and public works support for U.S. Navy shore facilities around the world. NAVFAC provides the Navy’s forces with the operating, expeditionary, support, and training bases they need. NAVFAC is a global organization with an annual volume of business in excess of $7.6 billion. As a major Navy Systems Command and an integral member of the Navy and Marine Corps team, NAVFAC delivers timely and effective facilities engineering solutions worldwide. For more information, visit www.navfac.navy.mil.



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