PCL Constructors Canada has signed a fixed-price contract with Toronto-based Humber College, for the design, construction, and financing of a new education facility, according to a statement by Infrastructure Ontario, the local government agency in charge of the procurement process.
The Learning Resource Commons, which will cost C$84.2 million (€62.6 million; $81.4 million), will be a six-storey, 260,000-square foot facility with the capacity to serve 2,200 students and will be located at Humber’s North Campus, in Etobicoke. The facility will include a new library, a student gallery and showcase space, and space for the School of Liberal Arts and Sciences and college administration.
The consortium, comprising developer PCL Constructors Canada, lead architectural firm B+H Architects, and financial advisors TD Securities Debt Capital Markets, will receive payment in spring 2015, when the project is expected to be substantially completed “to ensure the project’s on-time and on-budget delivery,” the government agency said.
The building is designed to qualify for a Silver rating in accordance with the green-building programme – Leadership in Energy and Environmental Design (LEED). Requirements for a building to be LEED certified include adopting strategies to minimize impact on ecosystems and water resources; promoting better building energy performance and better indoor air quality; and providing greater access to natural light and outside views.
Since its founding in June 2011, Infrastructure Ontario has applied its alternative financing and procurement model to 83 major projects valued at approximately C$38 billion. In addition to financing public infrastructure renewal, the government agency also manages government facilities and major commercial transactions on behalf of the province.