Huntington Ingalls Industries today said it has closed the sale of its Avondale facility to Avondale Marine, a joint venture of T.P. Host and Hilco Redevelopment Partners.
The Avondale site ceased Navy shipbuilding operations in late 2014.
T.P. Host works in the maritime industry, specializing in agency, terminal operations and marine assets, while Hilco is a real estate firm, HII said.
“In the coming months, Avondale Marine will begin its planning process for the approximately 254-acre site in partnership with stakeholders,” the contractor added.
A year ago, Huntington Ingalls said it had entered into an agreement to sell the site.