Thanks to a unique and creative approach structured by Keenan Development, the Department of Veterans Affairs (VA) now has a regional headquarters facility that anchors a "one-stop shopping" campus for veterans' medical and social services needs in Atlanta, Ga.

The Atlanta VA regional headquarters was, like many government entities, sorely in need of new administrative facilities, but had no funding source to meet the needs. Keenan Development tailored a solution to the VA's needs by bringing together its principals and the Dekalb County Development Authority to structure a financing transaction that significantly lowered the VA's rental rate and allowed the financing of a short-term, three-year Facilities Use Agreement. The facilities are located on VA-owned land through a long-term Ground Lease. Through this lease, Keenan Development successfully developed a $32 million, 344,000-square-foot facility under the auspices of Federal Enhanced Use Leasing authority. The facility combines first-class office space, computer room facilities, open office areas and food service space, along with a 437-car, multi-story parking garage.

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For this project, Keenan Development assumed the role of at-risk developer and long-term facilities property manager. The Department of Veterans Affairs Regional Headquarters was completed on time and under budget, with the owner enjoying the net deference in the project's budget and its ultimate cost.