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business elite canada
H
APRIL 2013
fice building, post-disaster build-
ing, high bay garage/workshop, and
accommodation for 1 810 parking
spaces.
THE BENEFITS
OF P3
The Government of Canada de-
cided that such an ambitious and
large-scale project would best be
completed through a public-private
partnership (P3) approach, meaning
the government can fund the proj-
ect within existing allocations with
no additional resources required.
The P3, between the Government
of Canada and Green Timbers Ac-
commodation Partners (GTAP) has
had many added benefits to the lo-
cal community. Approximately 900
direct and indirect jobs were creat-
ed during the design and construc-
tion period of the project.
“As the project moves towards the
operational phase, GTAP, through
their operational team, will gener-
ate another 180 direct and indirect
jobs,” says Liebrandt-Johnson.
For the project, GTAP has agreed
to a fixed price of $966 million
to design, build and finance and
maintain (DBFM) the new facil-
ity for a term ending 25 years after
construction. The design and con-
struction consisted of $263 million,
while project financing and build-
ing maintenance took around $703
million. According the Liebrandt-
Johnson, the project is on time,
within budget and on scope.
There are a number of additional
benefits of completing this project
through a P3. Liebrandt-Johnson
says it “leverages private sector
capacity and innovation, provides
incentives for the private partner to
