| This project involved alternative
financing and was completed for less
than 75 percent of the amount the
project would have cost had it been
constructed with governmentally
appropriated funds. In addition,
project rent is paid for by maintenance
savings from replaced, out-of-date
facilities. The Department of Energy
presented the Oak Ridge National
Laboratory complex with the Federal
Energy and Water Management
Award for exceptional accomplishments
in the efficient use of energy in the
federal sector. |
| |
| Situated within the highly secure Oak Ridge
National Laboratory is 368,000 square feet of
mission critical space consisting of a computational
sciences facility, engineering technology
research facility and research/headquarters
offices. The $72 million project designed to
promote collaborative research includes
laboratory space and computational research
space that serve numerous public and private
stakeholders. The project houses one of the
fastest super computers in the world, a Class
100 Modular clean room supporting Electro-
Optics research, and first-class headquarters,
office and administrative space. |
and Operating contractor, Battelle Memorial
Institute, and the state of Tennessee, and
are constructed on land acquired from the
Department of Energy and ground leased from
the not-for-profit entity. In return, Keenan
Development provides leased assets for the
laboratory operator that exceeds the property�s
fair market value. Keenan Development also
secured external funding from five major
institutional investors.
Keenan Development took on the role of at-risk
developer for a guaranteed day certain, dollar
certain delivery. As is the case with all Keenan
Development projects, these first three-of-five
Oak Ridge National Laboratory East Campus
Research Facilities were completed on time and
within budget. |
| One of the keys to this project�s success was
the financing solution proposed by Keenan
Development. The facilities are owned by a
not-for-profit entity sponsored by the Managing |
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