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Commercial, Financial Close Reached for Prince George’s County Public Schools Alternative Construction Financing Project

PRINCE GEORGE'S COUNTY, MD — Prince George’s County Public Schools (PGCPS) and Prince George’s County Education & Community Partners (PGCECP) announce commercial and financial close on the alternative construction financing project to design, build, finance, and maintain six public schools in Prince George’s County, Maryland, making it the first jurisdiction in the nation to partner with the private sector to bundle a multi-school delivery program, one which will deliver these critical community assets by 2023.

The PGCECP consortium selected for this project comprises:

  • Developer: Fengate Asset Management (Fengate) and Gilbane Development Company
  • Design-Build Contractor: Gilbane Building Company
  • Designer & Architect of Record: Stantec
  • Services Provider: Honeywell International Inc.

Formally known as the Blueprint Schools, the agreement between PGCPS and the lead member of PGCECP was recently finalized. The project, an approach to address aging facilities, will create six new schools by July 2023. Through the initiative that supports approximately 8,000 students, PGCECP will design, build, finance, and maintain the new Drew-Freeman, Hyattsville, Kenmoor, and Walker Mill Middle Schools, as well as a new middle school and K-8 school in the Adelphi and southern areas of the county. This delivery approach is the first of its kind for a U.S. public school system and is designed to build new schools faster, cutting the delivery time in half with lower construction costs and preventative maintenance.

Following commercial and financial close, PGCPS and PGCECP together announced the creation of a $1-million endowed fund supporting scholarships, student internships, mentoring opportunities, and apprenticeships valued at $4.7 million, as part of the school system’s Alternative Construction Finance Program.

Other community benefits include the guaranteed procurement of at least 30 percent of total eligible costs of the program to minority-owned businesses, community-based enterprises, and community-based small businesses that will serve as an economic stimulus. In addition, approximately $174 million in savings is expected in deferred maintenance and construction costs, compared to a traditional construction procurement model.

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“It is vital that we continuously invest in our students’ future and today’s announcement will allow us to do just that,” said Dr. Monica Goldson, Chief Executive Officer. “Throughout this process, Prince George’s County Public Schools has remained committed to our goal of supporting our students at every stage of their educational experience, ensuring they have every tool needed for success."

“We are pleased to have reached commercial and financial close on this critical project and to be a part of the new scholarship, internships, and apprenticeships program announced,” said Mac Bell, Managing Director, Infrastructure Investments, Fengate. “We are honored to partner with PGCPS to deliver this much-needed infrastructure for Prince George’s County and its students, and we are committed to ensuring the benefits of this project extend beyond the buildings, in support of student development and community businesses through the endowment fund and work and training opportunities.”

“This is an important step toward realizing new critical school improvements for Prince George’s County while offering new educational resources to support its students,” said Darin Early, Managing Director, Public Private Partnerships, Gilbane Development Company and Principal-in-Charge, Prince George's County Education & Community Partners. “Gilbane Development Company and Gilbane Building Company are honored to be a part of this innovative partnership that will modernize schools for 8,000 students while driving local participation and apprenticeship opportunities, and boosting economic inclusion.”

“Having built schools in the state of Maryland for more than 25 years, we know how transformational they can be to a community, and we look forward to this impactful collaboration with Prince George’s County Public Schools,” said Paul J. Choquette, III, Executive Vice President, Gilbane Building Company. “Our partnership will support economic inclusion for the county while we build vital new schools for the community.”

“This critical milestone allows us to now focus on the design and construction of education spaces that will meet the growing needs of the community,” said Laura Sachtleben, Education Sector Leader for Stantec. “We are honored to be designing these new schools, which will offer innovative learning environments through small and large group instruction and peer-to-peer engagement while helping students discover their skills and interests.”

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