NEW YORK, Dec. 12, 2014 /PRNewswire/ -- Meridiam, a leading global infrastructure firm announced today that it has been selected by the city of Indianapolis to build the city's new justice complex. Under the agreement, a Meridiam-led project company will finance, design build, operate and maintain the new justice complex in exchange for a single annual payment. The project will relocate and consolidate county jails, criminal courts, offices for the Marion County Sheriff's Office, and other related offices and agencies from disparate locations around Indianapolis. The facility will also include a 3,000 bed detention facility with on-site medical and mental health units, a 960 bed community corrections facility, and surface parking facilities. It will be situated on a site located southwest of downtown Indianapolis that was formerly occupied by a General Motors Stamping Plant.
This award follows Meridiam's realization of the Long Beach Courthouse, the first "performance-based" public-private partnership for a judicial building in the United States. The project, which was completed ahead of schedule and under budget was opened to the public in September 2013 and has won numerous awards since, including the 2014 Urban Land Institute Global Award for Excellence.
"Indianapolis has long been an innovative leader in its use of public-private private partnerships. Meridiam has a proven track record of strong success with the Long Beach Courthouse project, the first P3 judicial complex in the US. We are particularly proud of this success which belongs to the new generation of Meridiam leaders. Together, we look forward to a successful collaboration in delivering this project to the city and its community," said Thierry Deau, Founder/Chairman, Meridiam.
"We're proud to have been selected by Mayor Ballard and his team for this project," said Jane Garvey, Chairman, Meridiam North America. "P3 projects are an unparalleled opportunity to work with local government to provide value for taxpayers and enable the city and the community to realize their needs for growth within the best conditions."
"The city's procurement process has been thorough and transparent, and we look forward to delivering great service and value to local government and the community for many years to come. We have developed a campus-style justice complex with civic importance and strong design principles that will create a safe environment for all users, efficiencies within the city's operating budget and a landmark within the neighborhood," added Thilo Tecklenburg, Chief Operating Officer, Meridiam North America.
Founded in 2005, Meridiam is an independent investment firm specialized in the development, financing, and management of long-term public infrastructure projects. With offices in Paris, New York, Toronto and Istanbul, Meridiam is the leading investor in public infrastructure in Europe and North America. Currently managing $3.5 billion of assets, the firm has to date invested in 32 projects. Designated Global Infrastructure Fund of the Year for the third time in 2012, Meridiam was also the first investor and asset manager to receive ISO 9001 certification.
To learn more: www.meridiam.com