South County Secondary School

Lorton, Virginia

As the developer, Edgemoor provided real estate services and came up with an innovative approach that funded the school three years ahead of the county’s original schedule.

As the developer, Edgemoor provided real estate services and came up with an innovative approach that funded the school three years ahead of the county’s original schedule. This funding plan included tax-exempt lease revenue bonds rather than traditional general obligation bonds and customized debt service amortization to use the land sale proceeds from the sale of the contiguous county-owned property to Edgemoor team members. The result of a public private partnership, South County Secondary School is a 386,000 square-foot school housing both middle and high school programs. The building features a two-story media center, classrooms, and a gymnasium that seats 2,500 spectators.
Project Type
Education
Public Private Partnerships
Project Details
Cost: $56 Million
Size: 386,000 Square Feet
Project Newsletter
Awards

Land Monetization (3rd-Party Agreement)

As part of the overall transaction structure, an adjacent, County-owned parcel needed to be rezoned and entitled on an expedited timeline.

Solution

Edgemoor identified a contiguous parcel that, according to the County’s Comprehensive Plan, had the potential for higher and better use. Our team led an expedited rezoning and entitlement process in order to sell the property to a 3rd party, senior housing developer. The funds generated from the sale were used to offset project development costs.

Financing

Despite a pressing need for a new high school in the southern part of Fairfax County, the capital plan allocation for the school was scheduled to build the school five years in the future. Reallocation of funds within the capital plan was not a viable solution.

Solution

Edgemoor created a financial structure that allowed for an accelerated delivery of the school (by three years) and did not delay or impact any programmed funds for other schools. In fact, through a combination of project cost savings and land sale proceeds, Fairfax County was able to accelerate 11 other schools by one year.

Major Programmatic Design Change – High School to Secondary School

The school system made a major programmatic change in the middle of construction, requiring the school to open as a secondary school, instead of a high school.

Solution

Edgemoor worked with the key school system stakeholders and design team to reprogram assignable space to meet the new educational specifications. Through a coordinated effort, the team was able to incorporate the required design changes such that the construction schedule was not delayed and the school opened on-time.

"The project team remained positive, with a 'can do' attitude when faced with new challenges. They exceeded our expectations.”

Charles E. Bolen, AIA

Design Coordinator and Construction Manager

Secondary School Lifecycle

We understand that every client is different and that each project will contain some, if not all, of the Project Lifecycle elements. South County Secondary School, structured as a Design-Build-Finance (DBF) project, included the following lifecycle elements:

Learn More About Edgemoor

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.

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