Fengate Announces Award of the Providence Care Hospital Project and Achievement of Financial Close
Fengate, one of Canada’s leading alternative asset management firms, is pleased to announce that Integrated Team Solutions, the team comprised of Fengate and EllisDon Corporation, has been awarded the contract by Providence Care to design, build, finance and maintain the new Providence Care Hospital in Kingston, Ontario.
The Providence Care Hospital will be a state-of-the-art health care facility for residents of Kingston and surrounding communities. The new hospital will consolidate the services and programs that are currently being provided at the Providence Care St. Mary’s of the Lake Hospital and the St. Mary’s Mental Health Facility in order to offer a comprehensive range of inpatient and outpatient programs in one location.
The C$810 million contract includes the design and construction of the 270 bed, 619,110 sq. ft. hospital facility, building maintenance, life-cycle repair and renewal, as well as project financing. The project will incorporate sustainable building design and construction features, with the goal of achieving LEED Silver certification.
“Fengate is thrilled to be part of the team awarded this contract, supporting our clients’ investments in infrastructure projects,” said George Theodoropoulos, Managing Director, Infrastructure. “The Providence Care Hospital is another opportunity for our Firm to help develop a state-of-the art health care facility in Ontario.”
With the project achieving financial close on November 29, construction on the Providence Care Hospital will begin immediately and is expected to be completed by fall 2016. As part of the contract, Integrated Team Solutions has a 30-year agreement with Providence Care for the ongoing maintenance of the facility.