Project Costs of Sheridan College Hazel McCallion Campus Expansion

The contract with Sheridan Creative Partnership

Sheridan Creative Partnership has signed a contract with Sheridan College to design, build and finance an expansion to the current Hazel McCallion Campus in Mississauga. The Sheridan Creative Partnership team includes: Bondfield Construction Company Limited (Developer/Construction); Moriyama & Teshima Architects/Montgomery Sisam Architects (Architects); and Rocklynn Capital Inc. (Financial Advisor).

Under the terms of the project agreement, Sheridan Creative Partnership will receive payment at substantial completion of the project. This payment covers design, construction and project financing.

The contract with Sheridan Creative Partnership is for a fixed price of $67.3 million to be delivered by a fixed completion date. The new campus building will be delivered using Infrastructure Ontario's Alternative Financing and Procurement method. This method transfers most project risks to Sheridan Creative Partnership.

For example, the project agreement makes Sheridan Creative Partnership responsible for any design issues, project management and sub-contractor coordination, increases in construction material prices and labour costs, schedule and project completion delays, and other related construction risks. In the past, these risks were the responsibility of the public sector.

Sheridan Creative Partnership participated in an open, fair and competitive procurement process and submitted the proposal with the best value for Ontario taxpayers.

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