NEW YORK, Sept. 9, 2020 /PRNewswire/ -- Amber Infrastructure Group ('Amber'), the international infrastructure specialist, and its US parent, Hunt Companies, Inc. ('Hunt'), are pleased to have achieved financial close on the $44.4 million Public Services Complex for the City of San Marcos, Texas ('the City').
The San Marcos facility, a 155,000 square foot building is comprised of office space, utilities, vehicle maintenance, and crew facilities. It has been designed to enhance the delivery of operational services in the City. The administration building houses critical City functions such as City dispatch, a back-up emergency operations center, and a large training room. The facility has been designed to a modern specification, including a rooftop solar array and has a robust roof rainwater capture system.
The City engaged the Amber and Hunt team through a Progressive Development Agreement, which provides the City with a guaranteed maximum price to complete the project. By utilizing Progressive Development, the City was able to optimize the design and delivery schedule while significantly reducing the procurement risk and expense. Progressive Development is a specialism of the Amber and Hunt team, having successfully used this approach recently to deliver the Travis County Courthouse project.
"A Progressive Development Agreement also avoids unnecessary contingencies and prohibitive bid costs that have been a major cause of failures in P3 processes in the US over recent years," said Rodney Moss, Senior Vice President. "It allows the government and the developer to collaboratively de-risk the projects and optimize the scope and cost of capital. The City of San Marcos has been an excellent partner during this project, and the public service facilities created here will serve the citizens of San Marcos for decades to come."
For further information:
+44 (0)20 7939 0558
Amber Infrastructure Limited
Amber Infrastructure Group
Amber Infrastructure ('Amber') is an international infrastructure specialist, focused on investment origination, development, asset management and in Europe, fund management. Amber's core business focuses on infrastructure assets across the public, transport, energy, digital and demographic infrastructure sectors that support the lives of people, homes and businesses internationally.
Amber is headquartered in London with offices in Europe, North America and Australia and employs over 130 infrastructure professionals. Amber has had a strategic partnership with the Hunt Group of Companies (Hunt) in the US since 2015. Learn more at www.amberinfrastructure.com.
About Hunt Companies:
Hunt, based in El Paso, Texas, is a diversified, family-owned holding company that invests in operating businesses, real estate assets and infrastructure assets. Since its founding in 1947, Hunt's size and scope have grown substantially while gaining considerable expertise across multiple real asset sectors. Hunt's reputation is built on integrity and performance. Hunt is committed to a culture of transparency for employees, clients, investors, and the communities it serves. Hunt and its affiliates employ over 3,000 employees across the United States and Europe. Learn more at www.huntcompanies.com.
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SOURCE Hunt Companies, Inc.