Preferred Bidder Selected For Toronto 2015 Pan/Parapan American Games Athletes' Village Project

TORONTO, Sept. 2, 2011 /CNW/ - Infrastructure Ontario, in partnership with Waterfront Toronto, announced today that Dundee Kilmer Development Limited is the preferred proponent selected to design, build and finance the Athletes' Village project located in the West Don Lands.

The Athletes' Village will provide accommodations for the athletes and officials participating in the Toronto 2015 Pan/Parapan American Games.  After the Games, the Village area will become a mixed-use, inclusive and pedestrian-friendly riverside community that will include affordable housing as outlined in Waterfront Toronto's Precinct Plan for the West Don Lands.

The selection of the Dundee Kilmer Development Limited as the preferred bidder is the result of an open, fair and competitive procurement process, which was overseen by a third party fairness advisor, and included extensive evaluations of the three submitted bids. Throughout the bidding process, Dundee Kilmer Development Limited consistently demonstrated its proven experience and capabilities in financing, designing, developing and constructing large, world-class facilities. The team includes:

Dundee Realty Corporation - Equity Investor, Developer
Kilmer Van Nostrand Co. Limited - Equity Investor, Developer
EllisDon Corporation - Design Builder, Constructor
Ledcor Design Build (Ontario) Inc. - Design Builder, Constructor
Brookfield Financial Corp. - Financial Advisor
architectsAlliance - Joint Venture Architect
Kuwabara Payne McKenna Blumberg - Joint Venture Architect
Daoust LeStage Inc. - Urban Design Architect
TEN Arquitectos - Design

Infrastructure Ontario and Waterfront Toronto will begin negotiating contract details with the preferred bidder. Following finalization of a contract, the project is expected to reach commercial and financial close in fall 2011, which will mean that relevant contracts have been signed and the project's costs are finalized.

Project costs will be announced publicly following financial close and construction of the Athletes' Village is expected to begin shortly thereafter.

The Athletes' Village project will also include construction of non-residential facilities such as a media centre, transport mall and polyclinic, where athletes will receive a range of health-care services. Infrastructure Ontario and Waterfront Toronto are working with Games organizing committee Toronto 2015 (TO2015) to develop these elements.

The project includes the design and construction of:

  • a new mixed-use neighbourhood, including market and affordable housing;
  • an environmentally sustainable community that aims to achieve Leadership in Energy and Environmental Design (LEED®) Gold certification for the design and construction of the new permanent facilities. LEED® standards focus on healthy indoor environments, reduced greenhouse gas emissions and efficient use of energy, water and other resources; and
  • new roads and services, such as hydro, sewer and water infrastructure.

The project is proceeding under Infrastructure Ontario's Alternative Financing and Procurement (AFP) model whereby risks associated with designing, constructing, and financing the facilities are transferred to the private sector.

Infrastructure Ontario and TO2015 are working together to procure and deliver the Athletes' Village as well as working with municipalities, universities and provincial agencies to develop other Games venues across the GTA and Golden Horseshoe, such as the Aquatics Centre, the Velodrome, the Pan Am Athletics and Soccer Stadia and others.

Infrastructure Ontario is a Crown corporation dedicated to delivering some of the province's larger and more complex infrastructure renewal projects, on time and on budget; managing one of the largest real estate portfolios in Canada and providing real estate services, such as asset management and property and land management; and providing the public sector and not-for-profit organizations with long-term financing to renew public infrastructure.

The Governments of Canada and Ontario and the City of Toronto created Waterfront Toronto to oversee and lead the renewal of Toronto's waterfront. Public accessibility, design excellence, sustainable development, economic development and fiscal sustainability are the key drivers of waterfront revitalization.

Quotes:

Honourable Bob Chiarelli, Minister of Infrastructure
"This project reaffirms the government's commitment to making Ontario a greater place to live, work and visit through the renewal of vital infrastructure."

Disponible en français

Backgrounder

Dundee Kilmer Developments Limited Consortium Members demonstrate a track record of success

Dundee Kilmer Developments Limited ("Dundee Kilmer") is a partnership between Dundee Realty Corporation ("DRC") and Kilmer Van Nostrand ("KVN") for the purpose of developing the Toronto 2015 Pan/Parapan American Games Athletes' Village project in the West Don Lands (the "Project").

Dundee Realty Corporation is a privately-held Toronto-based real estate investment, development and asset management company with approximately $7 billion in assets under management.  DRC brings extensive mixed-use development and financing experience to the Project.  In particular, DRC offers relevant and unique investment and development experience in the immediate vicinity of the Project site (the Distillery District and Corktown District development) that will bring enhanced value to the Project Team.  DRC's investments include $750 million of master planned residential community assets and $500 million of urban development condominium assets.

Kilmer Van Nostrand Co. Limited is the private investment holding company of Canadian business leader and philanthropist, Larry Tanenbaum. KVN actively builds and manages investments in real estate and infrastructure, sports, entertainment and media, and private equity.  The firm is a well-qualified partner for the Project given its over 40 years of experience in the construction and development industry in Canada, and its track record in partnering with the public sector throughout Canada in the delivery and management of infrastructure assets.  KVN is a lead partner of Host Kilmer Service Centres LP, who have had notable success in developing the Ontario Highway Service Centres project ("ONroute"), sponsored by Infrastructure Ontario and the Ontario Ministry of Transportation.

As a group, Dundee Kilmer's core team members - EllisDon Corporation, Ledcor Design-Build (Ontario) Inc., architectsAlliance, Kuwabara Payne McKenna Blumberg Architects, TEN Arquitectos, Daoust Lestage Inc., MacLennan Jaunkalns Miller Architects, Goodmans LLP, and Brookfield Financial Corp. have an outstanding history of designing, building, marketing and financing successful mixed-use projects.

SOURCE Infrastructure Ontario

For further information:

Mandy Downes       Tari Stork
Infrastructure Ontario      Waterfront Toronto
416-327-5246     416-214-1344

 


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