In today’s challenging economic environment, most public/private projects have been indefinitely suspended due to an inability to secure a favorable reception and financing commitments from capital markets, and are instead waiting for the economy to improve. Despite these difficult conditions, Keenan Development has once again overcome the market’s challenges by successfully securing financing in February 2009 for the expansion of its $130 million Fort Detrick Central Utility Plant. 

Financed through $24 million in Taxable Revenue Bonds, the project extends the thermal utilidor loop that interconnects Keenan Development’s existing central utility plant and distribution network within the Fort Detrick installation. This network provides steam, chilled water, and conditioned power sufficient to meet the energy requirements and high reliability needs of the Facilities at the National Interagency Biodefense Campus (NIBC).

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Whether on the heels of 9/11 and its successful design/build/finance of key research facilities at Oak Ridge National Laboratory, or the design/build/finance of utilities critical to vital government research efforts in a time of national recession, Keenan Development has again proven its ability to get the job done on time and within budget regardless of external forces.