Integrated Team Solutions (ITS) has won a contract to design, build, finance and maintain the new Waterloo Region Consolidated Courthouse. As the preferred proponent, ITS is in the process of negotiating a final contract with The Ministry of the Attorney General and Infrastructure Ontario.
The new facility for downtown Kitchener, Ontario will consolidate the Superior Court of Justice and Ontario Court of Justice which are currently operating in three locations across Waterloo Region.
It will, of course, be designed to LEED standards. And it has another pro that gets a mention in any good PR these days: once under construction, this project will help create jobs and spur economic activities across the region.
The ITS team includes Fengate Capital Management/LPF Infrastructure Fund, EllisDon Corporation, Norr Limited/Aecom Services, SNC Lavalin Profac and CIT Group Securities Inc.
Financing for the Waterloo Region Consolidated Courthouse is being provided by Sun Life Assurance Company of Canada and Great West Life Assurance Company as bond underwriters, together with a banking group consisting of Bank of Montreal, CIBC, National Bank of Canada and Laurentian Bank of Canada. Equity is being provided by Fengate Capital Management/LPF Infrastructure Fund and EllisDon Corporation.
Project costs for this AFP will be announced publicly following financial close of the project. Construction is expected to begin shortly thereafter in early spring 2010.
