The State of Illinois in the USA has announced an important step forward in selling the James R. Thompson Center (JRTC). After a competitive RFP process to select a project manager, the State will enter into exclusive negotiations with Ernst & Young Infrastructure Advisors, LLC (EY) to provide an array of project management and technical expertise to generate the best value from the sale for taxpayers.
The EY team also includes Bauer Latoza Studio (a Minority Business Enterprise), Goodman Williams Group (a Women Business Enterprise), and Mayer Brown, LLP. Community outreach and inclusive procurement practices will be key focus areas throughout the disposition process.
Opened in 1985, the JRTC encompasses approximately 1.2 million square feet of the enclosed area. The main building enclosure system is glazed with single-pane, non-thermally broken aluminum frames which is energy inefficient and does not meet current standards for performance or thermal comfort.
Because of prolonged deferred maintenance and delayed capital projects, in 2016 the construction cost was estimated to be over US$ 325 million to bring the building into a good state of repair. The facility is also larger than necessary and costly to operate with annual operating expenses exceeding US$ 17 million. By divesting the oversized, outdated and expensive facility, the State can relocate its core services to appropriate replacement spaces. This strategic relocation effort will reduce operating costs, increase productivity and better serve constituents.
Los Angeles County Metropolitan Transportation Authority in the USA is considering three railway projects in Los Angeles for implementation on a P3 model. The three projects are: West Santa Ana Bra...
Read moreMacquarie Group and Skanska launched a transaction to sell of Midtown Tunnel concession in Virginia. Virginia tunnel PPP involves the construction of a second Midtown tube to relieve some of the wors...
Read moreACS Group, through its subsidiary Iridium, has sold 75% of its 50% equity interest in the I-595 Express Lanes project in Florida (USA), to its current partner in the concession, Teachers Insurance, an...
Read moreThe responses are due for AirTrain Newark Replacement Program industry feedback. The Port Authority of New York & New Jersey in the USA has launched a request for industry feedback (RFIF) fo...
Read moreAMP Capital completes acquisition of Expedient (Continental Broadband, LLC), a leading US provider of cloud computing and data center services, from Landmark Media Enterprises, LLC. Expedient offers...
Read more