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