Integrated Team Solutions has achieved financial close on the Toronto South Detention Centre project with Infrastructure Ontario and the Ministry of Community Safety and Correctional Services.
Integrated Team Solutions has achieved financial close on the Toronto South Detention Centre project with Infrastructure Ontario and the Ministry of Community Safety and Correctional Services.
ITS partnered with EllisDon Corporation as the design builder, Johnson Controls LP as the facility manager and Zeidler Partnership as the lead architect.
The detention centre is a design, build, finance, and maintain project, with a term of 30 years. ITS successfully prequalified for the TSDC bid in the fall of 2008, submitted the proposal in May 2009 and was named as the preferred proponent in August 2009.
The project has a net present value of approximately $593.9 million. Equity financing was provided by Fengate Capital Management Ltd. via an investment on behalf of LPF Infrastructure Fund, and by EllisDon.
Senior debt financing was provided by a consortium of lenders including Calyon, Norddeutsche Landesbank, Banco Espirito Santo de Investimento, Bank of Montreal, Canada Life Assurance Company and Sun Life Assurance Company.
The TSDC project, which includes a 1,650-bed maximum security facility for adult inmates, a 320 bed intermittent centre, including those with special needs, is being built to replace the Toronto Jail and will be located on the south portion of the Mimico Correctional Centre property in Etobicoke, Ont.
Construction on the project, which is targeting LEED Silver certification, is set to begin this month and will be completed in fall 2012. The TSDC will also feature a geothermal ground source heat exchanger that will produce 7.8 terra joules of renewable energy per year.
-DCN News Services
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