UCSF Sandler Neurosciences Center

San Francisco, California

Home to the University of California, San Francisco (UCSF) Department of Neurology, the Institute for Neurodegenerative Diseases, and the W.M. Keck Foundation Center for Integrative Neuroscience, the Sandler Neurosciences Center is one of the largest neuroscience complexes in the world.

Through a collaborative effort, Edgemoor partnered with the University to develop, finance, design, construct, and manage the Sandler Neurosciences Center on UCSF’s Mission Bay Campus. Edgemoor was responsible for coordinating all of the development activities including entitlements, permitting, design management, asset management, and oversight of final delivery and building occupancy. Home to the University of California, San Francisco (UCSF) Department of Neurology, the Institute for Neurodegenerative Diseases, and the W.M. Keck Foundation Center for Integrative Neuroscience, the Sandler Neurosciences Center is one of the largest neuroscience complexes in the world. The 237,000 square-foot building has both clinical and laboratory research space, BSL-3 space, a vivarium, auditorium, and support/office space.
Project Type
Education
Public Private Partnerships
Science
Project Details
Cost: $200 Million
Size: 237,000 Square Feet
LEED Certification: LEED Gold Certified
Project Newsletter
Awards
DBIA Western Pacific Region - Excellence Award, Science Lab Project San Francisco Business Times, San Francisco Best Real Estate Deal, 2013

Receive Cost Certainty for Delivery and Operations Early On

UCSF wanted to consolidate several neuroscience research programs into a single building to promote collaboration, interdisciplinary research, and easily move trials from labs to a clinical setting. The school's vision was leading-edge, but the timing was off: external market forces, including the rising construction pricing, made the planned DBB approach unfeasible. Every bid came in above budget.

Solution

A public-private partnership (P3) allowed UCSF to carry out its academic mission despite unfavorable market conditions. Through a P3, Edgemoor guaranteed the project cost and schedule up-front, and provided a certainty of operating costs and capital replacements.

Need for Short-term Financing

UCSF wanted to further the project’s design in parallel with contract negotiations, but had no budget authority to expend funds. Without a source of funds, the project would have been delivered a year late.

Solution

Edgemoor arranged, at risk, a line of credit to cover the design costs. The credit facility paid third-party design and engineering costs, and the outstanding balance was paid off at financial close for the permanent financing.

Long-term Operations & Maintenance

UCSF wanted to leverage the private sector’s efficiency and expertise in managing life sciences buildings, and ensure that funding for capital repair and replacement was locked in.

Solution

As part of the long-term contractual arrangement, Edgemoor guaranteed both the operating costs and the capital refurbishment costs. This approach not only provided UCSF with cost certainty, but also created a structure that will guaranty that the building will be handed back to UCSF in excellent condition.

   "Throughout the partnership, the Edgemoor team displayed extreme flexibility, as well as the willingness to incorporate modifications such as the addition of new researchers, or newly conceived research projects and their associated facility requirements. It has all been superbly orchestrated and executed by Edgemoor."

Dr. Stanley Prusiner

Nobel Laureate, Director and Professor, UCSF Institute for Neurodegenerative Diseases

UCSF Sandler Neurosciences Lifecycle

We understand that every client is different and that each project will contain some, if not all, of the Project Lifecycle elements. The UCSF Sandler Neurosciences Center, structured as a Design-Build-Finance-Operate-Maintain (DBFOM) project, included the following lifecycle elements:

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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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