Ontario's AFP Model Delivers Waypoint Centre On Time and On Budget
TORONTO, Dec. 11, 2013 /CNW/ - The Canadian Council for Public-Private Partnerships welcomes the news that the Waypoint Centre for Mental Health Care has reached substantial completion and that the building is ready to be turned over to the hospital. This is another project that the Government of Ontario's Alternative Finance and Procurement (AFP) model has delivered on time and on budget.
The new mental health facility is replacing the 160-bed Oak Ridge facility and 20-bed Brébeuf building, providing treatment and care of people with mental health disorders who have had contact with the criminal justice system. The agreement with the project consortium Integrated Team Solutions (ITS), led by a joint venture of EllisDon Corporation and Fengate Capital Management Ltd., includes design, construction, financing and maintenance for 30 years and will provide a state-of-the-art and secure environment for mental health patients for decades to come.
Using the AFP model for Waypoint achieved an estimated $83 million (15.7 per cent) in cost savings compared to a traditional design-build approach. The hospital made no payments to ITS until the facility reached substantial completion, creating a strong incentive for the AFP model to deliver on-time construction. This record of success is evident in other Ontario projects using the AFP approach and the 205 projects in procurement, under construction or operational across Canada that are using the public-private partnership model to deliver innovative solutions to complex public needs.
About the Canadian Council for Public-Private Partnerships: Established in 1993, CCPPP is a national not-for-profit non-partisan, member-based organization with broad representation from across the public and private sectors. Its mission is to promote innovative approaches to infrastructure development and service delivery through public-private partnerships with all levels of government. The Council is a proponent of evidence-based public policy in support of P3s, facilitates the adoption of international best practices, and educates stakeholders and the community on the economic and social benefits of public-private partnerships.
SOURCE Canadian Council for Public-Private PartnershipsFor further information:
President and CEO
Tel: 416-861-0500 Email: firstname.lastname@example.org