Sunday, December 27, 2009

YouNex greenlit to build $200M facility

YouNex greenlit to build $200M facility

Posted: Dec 27, 2009 4:36 PM
Updated: Dec 27, 2009 6:16 PM

by Michele Catahay

Guam - YouNex Enterprises Corporation recently signed a contract to design, build and assist with the operations and management of an 18,000-bed workforce village. The project is expected to house foreign workers during the construction phase of the military buildup on Guam.

A signing ceremony was held in Seoul, Korea last week by STX Group and YouNex to pave the way for construction for a new facility to house foreign workers for the military buildup. The contract is valued at approximately $200 million to design, build and assist with the operations and management of an 18,0000-bed, fully integrated workforce village to house temporary labor. The project, Ukudu Workforce Village, will be located in the Harmon Annex, bordering the Navy's South Finegayan Family Housing Facility and just north of Two Lovers Point.

The campus will include a medical clinic and fire and security response, transportation for workers to and from worksites and non-work activities, laundry, banking and convenience store services and organized recreational and individual activities to include religious worship facilities.

YouNex Senior Vice President Dave Tydingco said, "We had to go through the land use commission process to rezone the property there, N1, which is a light industrial zone because that was the only zoning that would allow for this type of development. The second phase of planning, which allows for the Land Use Commission to review your site development plan, which was approved on October 29."

Tydingco says the first sector, which will include up to 2000 beds will open up on October 2010. He says depending on the demand of workforce housing, YouNex could construct up to 18,000 beds, if necessary. "We provide a solution that allows for maximum benefits to the customer with the customers being contractors and minimal impact to the community," he continued. "It is isolated and we'll be able to contain and control the foreign workforce population that will be there."

YouNex will not only help with work force housing, but Tydingco says there may be a possibility that his company may help construct residential housing. In fact, he says as part of the Draft Environmental Impact Statement, one of the alternatives is to build housing for military personnel in areas near property they own. "We've actually had initial discussions with JGPO about proposing at least 110 acres of the 252 acres we own for residential housing and we are pursuing that with the military and we hope that if they find it a viable solution, we're prepared to move forward, finance and construct and manage that facility for them," Tydingco said.

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