P3s Buildings Case Study



New Long Beach Courthouse

PROJECT DESCRIPTION

The Long Beach Courthouse project was the first performance-based social infrastructure PPP project in the United States. Long Beach Judicial Partners was awarded the contract in June of 2010, with construction beginning in January 2011. Final square footage for the courthouse is 529,000 square feet, with 31 new courtrooms, a detention center and holding cells, sally port, and office space. The facility accommodates 800 workers and 3,500-4,500 visitors daily. The project was completed ahead of schedule in August 2013 and below budget and has been lauded as a tremendous success, receiving 13 national and global awards.


PROJECT OVERVIEW
  • Courtrooms: 31
  • Overall Square Footage: 529,000 SF
  • Construction Cost: $300 million, $490 million total investment
  • Start: January 2011
  • Occupancy: August 2013
PROJECT DEVELOPMENT
  • First Performance Based Infrastructure Project in the United States
  • Design-Build-Finance-Maintain (DBFM) contract over 35 years
  • 11 Consortiums submitted Qualifications
  • Official Announcement of Selection of Long Beach Judicial Partners in June 2010
  • Financial Close Occurred December 20, 2010

P3 Project Case Study


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Long Beach Civic Center

PROJECT DESCRIPTION

The Project includes the creation of a new City Hall, a new Main Library, a revitalized Lincoln Park, parking facilities, and a new Port of Long Beach headquarters, as well as complementary private development in downtown Long Beach. Plenary Properties Long Beach (PPLB) will develop, design, build and finance the new Civic Center, and will then manage operations and maintenance over a 40-year concession period. By utilizing a public-private partnership model, the City of Long Beach is able to produce this redeveloped Civic Center costing less than it currently pays to use and maintain existing facilities.


PROJECT OVERVIEW
  • Project Overview USD $520 million.
  • Substantial Completion achieved June, 2019
  • Meets LEED® Gold for New Construction standards
  • 40 year concession term.

P3 Project Case Study PowerPoint
PROJECT DEVELOPMENT
  • Transaction Launched in April 2013
  • RFP issued in August 2015
  • Long Beach City Council approves project December 2015
  • Transaction reaches Financial close in April 2016
  • Project scheduled to reach full completion by September 2021

P3 Project Case Study


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LaGuardia Airport Renewal

PROJECT DESCRIPTION

LaGuardia airport is a vital feature of New York City’s infrastructure—one of only three major commercial airports to serve the region. The airport’s central terminal building was constructed in 1964 with a designed capacity of 8 million air passengers per year; however, the Port Authority of New York & New Jersey (PANYNJ) estimates traffic in the terminal will surpass 17 million annual passengers by 2030, more than twice its intended capacity. This insufficiency, combined with aging infrastructure and facilities, encouraged the PANYNJ to undertake an $8.0 billion airport renewal project, which allocates $3.6 billion to the construction of a new Central Terminal Building.


PROJECT OVERVIEW
  • USD $3.9 billion project cost
  • Largest public private partnership undertaken in the United States to date
  • Demolish and reconstruct Central Terminal Building & surrounding Roads, Bridges, and Parking Structures
  • 1.3 Million Square Feet Central Terminal Building
  • CTB will house restaurants, lounges, and 35 aircraft gates
  • DBFOM with a 35-year concession term
PROJECT DEVELOPMENT
  • Transaction launched in October 2012
  • RFP issued in August 2013
  • The Port Authority of NY and NJ approves project March 2016
  • Transaction reaches financial close June 2016
  • Project scheduled to reach full completion by July 2022

P3 Project Case Study


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Howard County Courthouse Replacement

PROJECT DESCRIPTION

The new facility will replace the existing courthouse built in 1843, which has not been able to keep pace with the growth of the surrounding community. The new Howard County Circuit Courthouse will be 237, 000 sq. ft. high rise justice facility designed LEED Silver standards featuring a 600 space parking garage, the building will provide a modernized courthouse facility, including administration offices for the County staff, County, Office of State’s Attorney, local Bar Association and several other affiliated services. The project also incorporates a staff fitness center and a 6,000 square foot cafeteria. The private partners will also provide demolition services for the existing building. Moreover, the new courthouse is slated for delivery in the summer of 2021. The project is being delivered under a public-private partnership (P3), utilizing a design-build-finance-operate-maintain (DBFOM) contract with a performance-based availability payment structure to meet the requirements of the Project.


PROJECT OVERVIEW
  • USD $520 million.
  • Built to replace the existing courthouse and improve access to justice.
  • 237, 000 sq. ft.
  • Design-Build-Finance-Maintain procurement model.
  • Contract awarded in 2018.
  • Construction scheduled for completion in summer, 2021.
  • 30 year contract term.
PROJECT DEVELOPMENT
  • Transaction launched July 2017
  • RFP issued December 2017
  • Howard County Maryland County Council approves the project February 2017
  • Transaction reaches financial close October 2018
  • Construction begins June 2019
  • Project scheduled to reach full completion summer 20219

P3 Project Case Study


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UC Merced Expansion

PROJECT DESCRIPTION

The University of California, Merced 2020 (UCM 2020) Project is an expansion and redevelopment project on the UC Merced campus in Merced, California that will deliver a modernized, sustainable campus for 10,000 students. The project will nearly double the campus’ physical capacity by 2020 and is the first in the University of California system to use a single private development team for a project of this scope. The project is a mixed use master planned development to be built on a 219 acre parcel of land owned by the University that is adjacent to the existing campus. The project will include new teaching facilities, research laboratories, and faculty offices, as well as total of 1,700 new beds of student housing to help the University meet its growth needs by 2020.


PROJECT OVERVIEW
  • USD $1.2 billion.
  • Phased construction scheduled for completion in September, 2020.
  • 1.2 million sq. ft., including new teaching facilities and research laboratories.
  • Multi-phase construction schedule
  • 39 year concession term
PROJECT DEVELOPMENT
  • Transaction launched April 2014
  • RFP issued November 2015
  • University of California Board of Regents approves the project November 2015
  • Transaction reaches financial close August 2016
  • Project scheduled to reach full completion by Fall 2020

P3 Project Case Study


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