Arup announced that the City of Long Beach and Port of Long Beach have reached financial close for the $520 million Long Beach Civic Center Project.
The project includes a new city hall, port HQ, main library, public park, and street improvements. All the features are designed to be occupied within a week of a major earthquake and meet REDi Gold earthquake performance, an operational resilience rating system developed by Arup.
A public-private partnership (P3) was used to fund the project, which combines public infrastructure and private mixed-use real estate development into one design-build-finance-operate-maintain arrangement.
Arup, the global interdisciplinary consulting and design services firm, served as lead advisor to the city and Port of Long Beach. The firm led financial, commercial, real estate, design, engineering, and cost consulting advisory services.
Long Beach, Calif. Photo: Zen Skillicorn/Creative Commons.
The Arup team included HOK for architecture consulting, BAE for real estate economics, and MBI Media for outreach. Sheppard Mullin provided legal advice to the owners.
Plenary Group is the lead P3 developer, sole equity provider, and financial arranger for the consortium, which includes Clark Construction, Edgemoor, Johnson Controls, and SOM.
Allianz, in a private placement, is providing $237 million in long-term financing. Sumitomo Mitsui Banking Corp. is providing a $213 million loan. Long Beach would contribute $11.8 million in cash and land valued at nearly $30 million. Plenary is contributing $21 million in equity.
Arup managed the entire process from the RFP to the end of negotiations and helped the project become a reality quicker than expected.
"A significant value added for the city is how the P3 model accelerated what would more conventionally have been a three- to five-year project development process using traditional project delivery methods to a two-year process," Orion Fulton, Arup's project team leader, said.
Arup has served as an advisor for numerous projects, including Presidio Parkway in San Francisco, the Los Angeles Convention Center, and the New Champlain Bridge in Quebec.
Construction has begun, and the next phase of the project is being launched.
Related Stories
Government Buildings | Jul 26, 2017
Spector Group unveils new law enforcement center for Nassau County
The center will serve as a regional training center for all Nassau County Police personnel.
Building Team Awards | Jun 13, 2017
Government campus reimagined: Intelligence Community Campus
Building Team converts 1940s campus into a sleek, modern home for U.S. intelligence agencies.
Building Team Awards | Jun 7, 2017
Justice league: United States courthouse
Gold Award: The Building Team for L.A.’s newest courthouse went way beyond what was expected.
Cultural Facilities | Dec 14, 2016
Institutions aggressively targeting private donors to fund construction projects
Capital campaigns abound, even though government financing still plays a vital role.
Government Buildings | Dec 1, 2016
Unlocking innovation in the government workplace
Government work settings ranked the lowest in their effectiveness across the four work modes: focus (individual) work, collaboration, socializing (informal gathering that fosters trust and teamwork) and learning.
| Sep 1, 2016
COURTHOUSE GIANTS: A ranking of the nation's top courthouse design and construction firms
DLR Group, NBBJ, Hensel Phelps, Sundt Construction, AECOM, and Dewberry top Building Design+Construction’s annual ranking of the nation’s largest courthouse sector AEC firms, as reported in the 2016 Giants 300 Report.
Cultural Facilities | Aug 27, 2016
Yellowstone Park Foundation receives $1 million donation from Toyota
The money will support new eco-friendly and efficient buildings on the park’s Youth Campus.
| Aug 18, 2016
LOCAL GOVERNMENT GIANTS: A ranking of the nation’s top design and construction firms in local sector work
HOK, Stantec, Turner Construction Co.,Clark Group, AECOM and STV top Building Design+Construction’s annual rankings of the nation’s largest local government sector AEC firms, as reported in the 2016 Giants 300 Report.
| Aug 18, 2016
STATE GOVERNMENT GIANTS: A ranking of the nation’s top design and construction firms in state sector work
CannonDesign, Stantec, Turner Construction Co.,Mortensen Construction, WSP | Parsons Brinckerhoff and AECOM top Building Design+Construction’s annual rankings of the nation’s largest state government sector AEC firms, as reported in the 2016 Giants 300 Report.
| Aug 18, 2016
FEDERAL GOVERNMENT GIANTS: A ranking of the nation’s top design and construction firms in federal sector work
Page, EYP, Fluor Corp.,BL Harbert International, and AECOM top Building Design+Construction’s annual rankings of the nation’s largest federal government sector AEC firms, as reported in the 2016 Giants 300 Report.
