01 Nov 2023
P3 Bulletin recently hosted the annual P3 Awards in New York City, marking the celebration of another year’s achievements, innovation and progress in the infrastructure sector across the Americas. With Plenary team members and clients in attendance, we were honored to be recognized with three award wins this year.
For the fourth year in a row, Plenary Americas was named Sponsor/Developer of the Year. Highlights of our success include closing on the award-winning DC Smart Street Lighting Project in Washington, DC, which was the first street lighting project to make use of tax-exempt private activity bond financing, the first P3 undertaken by the District of Columbia, and the largest urban streetlight modernization project using the P3 model.
Plenary also closed on the $9 billion Ontario Line Rolling Stock, Systems, Operations & Maintenance (RSSOM) contract in Toronto, which saw one of the largest P3 debt-raises in history, soliciting lender interest from across the globe.
Judges comment: “The judges considered the Plenary Americas entry to be a very compelling case for a developer that has shown a lot of adaptability and initiative in advancing P3s, including the adoption of unconventional routes to meaningful inclusion of local and minority businesses.”
Construction on the project began in April 2019 and substantial completion was achieved on time and on budget in June 2022, no small feat as the disruption caused by the COVID-19 pandemic necessitated additional processes and collaboration to keep staff safe, adapt to changing circumstances and maintain momentum. Sustainability impacts and practices were at the forefront of project development with the state-of-the-art Preservation Storage Facility being the first Net Zero Carbon building dedicated to the preservation of archives in the Americas.
Judges comment: “The judges were impressed by the environmental mitigation, innovative collaboration between the procuring agency and developer team, and exceptional success through the pandemic response.”
Best Social Infrastructure Project: William H. Gray III 30th Street Station Redevelopment Project
This station is one of the busiest intercity passenger railroad facilities in the United States. The redevelopment project includes a retail renovation, improved and expanded concourses, and public plaza enhancements to provide for an exceptional customer experience and prepare the station for ridership growth.
Judges comment: The judges applauded the DBE involvement, dealing with COVID-19 and community engagement. They also identified a real partnership encompassing public assets and commercial enterprise.”
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