MegaProject 529: Five developers qualified for Fort Lauderdale convention center P3
- Ares Management
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Broward County (USA) has shortlisted a total of five teams to carry out the expansion the Fort Lauderdale convention center through a P3 project.
The five teams are the following:
- Fort Lauderdale Convention Center Hotel LLC, a partnership between Rida Development and Ares Management;
- Hensel Phelps Development LLC;
- Matthews Southwest Holdings Inc.;
- Omni Hotels Management Corp. and
- The Related Cos./PRH Investments LLC.
Cohen Brothers Development Corp. of Florida LLC was the only team that has not been shortlisted after submitting qualification documents.
Robert Miracle, the county's chief financial officer, stated:
"The goal of step one was to look at the financial capacity and capability of all six developers and determine whether or not they can take on this size development for Broward County,"
The project will be developed on a design, build, finance, operation and maintenance (DBFOM) basis. It will involve the addition of approximately 300,000-square-foot building to the Greater Fort Lauderdale convention center and the development of a new 750 to 1,250 room hotel. Additionally, the project would also include additional parking, retail and entertainment options.
The total project investment is estimated at US$550 million.
The preferred bidder is scheduled to be announced by October 2016. Construction works are expected to comence by August 2017 while the new facilities would be operational by the third quarter of 2020.
Broward County is located in the U.S. state of Florida. It has a population of approximately 1.8 million inhabitants, making it the second-most populous county in Florida and the 18th-most populous in the United States.We have recently reported on several PPP projects in the USA:
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