The Route 28 public-private partnership involved several key participants including VDOT, Fairfax County, Loudoun County, and hundreds of property owners represented by a landowner advisory board.
The Edgemoor team was responsible for coordinating these different public and private sector groups to ensure consensus on key issues regarding right of way, utility relocation, transportation design, sequencing of improvements, and financing. We implemented a collaborative development management solution by meeting with all respective stakeholders to make sure issues were addressed and that the project was delivered smoothly and with support from all key stakeholder groups.
Create a cost efficient financial structure that would deliver 30-years’ worth of planned transportation improvements in 10 years.
Central to Edgemoor's financial solution was leveraging an existing special tax district in a new way. Rather than continuing with the current “Pay as You Go” system, we developed an approach that leveraged future tax streams to sell bonds to accelerate the construction. The Counties recognized the economic development uplift from an improved transportation network and assisted in further strengthening the project structure (via a moral obligation) to deliver more project scope sooner.
"Having the firm responsible for the long term operation of the building...at the table [during design & construction] is a quality control mechanism of sorts that helps ensure that the product being built using fast track construction will be an enduring asset."
Edgemoor is a leading vertically-integrated developer and asset manager of buildings and infrastructure and offers tailored comprehensive development solutions to a broad range of clients.