October 7, 2019

Edgemoor & Howard County New Circuit Courthouse Project Win Big at P3 Bulletin Awards

Edgemoor won the Gold award for "Sponsor/Developer of the Year", and the new Howard County Circuit Courthouse won Gold for both "Best Social Infrastructure Project" and "Best Financial Structure" at the P3 Bulletin Awards on Thursday, October 3rd.

On October 3rd in New York,Edgemoor won the Gold award for “Sponsor/Developer of the Year” at the P3 Bulletin Annual Awards ceremony. Now in its 6th year, the P3 Bulletin Annual Awards brings together the P3 industry for one of its largest nights to celebrate P3 achievements on a global scale. Edgemoor is proud to have been the gold award winner among the distinguished nominees in the field.

2018 and 2019 have been marked by numerous milestone achievements for Edgemoor:

  • In February 2018 Edgemoor executed an MOU for the $1.5 billion Kansas City International Airport New Terminal Modernization, reached financial close in June 2019, and broke ground on the project in March 2019, the largest infrastructure project in the history of Kansas City.
  • The $383 million University of Kansas Central District Development was completed in May 2018, two months ahead of schedule, and transitioned smoothly into operations.
  • The Edgemoor-led team was selected as the preferred developer for the $178 million Howard County Circuit Courthouse P3 in June 2018, reached simultaneous financial and commercial close in October 2018, and broke ground in June 2019.
  • Additionally,in June 2019 the team delivered the $531 Long Beach Civic Center P3 on schedule.

Some of the quotes about Edgemoor from the judging panel included:

  • “Leaders in the social, vertical infrastructure development field by a large margin.”
  • “Simply, the best turnkey master developer in North America.”
  • “Top performers in airports, buildings,courthouses, education facilities, real estate, all requiring a deep commitment to seeing projects through fruition, open communications, commitments to diversity and inclusion.”

Edgemoor was also commended for its commitment to developing and implementing programs that help develop traditionally underrepresented communities (minority and women-owned businesses).

In addition, the ongoing Howard County New Circuit Courthouse won “Best Social Infrastructure Project” and “Best Financial Structure”. The new 237,000-square-foot Howard County Circuit Courthouse is the first availability-payment structured social infrastructure P3 to reach financial close in the US outside of California.

During the award recognition, the judging panel noted that the courthouse project’s well-structured procurement and innovative approaches to financing for the jurisdiction and size of the project made the project stand out amongst its competition. The project was also praised for its approach to design and sustainability.

Howard County ran one of the most disciplined and thoughtful procurement processes the P3 industry has witnessed.Stemming from that success, the County received a very well-deserved Silver award for “Public Agency of the Year”. The County’s early organization,thoughtful value-for-money analysis, engagement of experienced P3 advisors, and obtaining key pre-approvals from the County Council enabled the deal to go from RFP to financial close in only 11 months.

The full list of award winners can be found here.

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