Natural Resources
Research Center and Campus
Fort Collins, Colorado
Project Type
Research campus and
facilities Design/build/finance
$60 million
Public/private financing
research center
30-acre research campus
    Natural Resources
Research Center and Campus
Fort Collins, Colorado
The transaction structured by Keenan Development was so successful that the revenue bond sale enjoyed more purchaser interest than the amount of bonds required to be sold and available, leading to a lower interest rate in the transaction and reducing the lease rate paid by the government. The rental rate savings paid for sustainable design features throughout the campus.
Through a unique partnering arrangement among Keenan Development, Colorado State University (CSU), the state of Colorado and the city of Fort Collins, a new 30-acre research campus designed to facilitate cooperative research and research administration among multiple state and federal agencies now exists for the benefit of the Department of Natural Resources, CSU and other research stakeholders.

Keenan Development led the design/build/finance project from the point of site acquisition to facility completion and commissioning. Keenan Development acquired the site through a public/private partnership with CSU and arranged a ground lease on which to develop the research facilities. Keenan Development�s
unique transaction structure allowed a not-forprofit entity to fund the development of the $60 million, 440,000-square-foot, multi-building research center. The center includes teaching space, research laboratories, Class A office space and computer facilities. CSU was a thirdparty beneficiary to the transaction, retaining title to the facilities and enjoying the benefit of more research space for its campus.

Keenan Development served as at-risk developer for a guaranteed day certain, dollar certain delivery and non-owning managing member of the not-for-profit corporation. As is the case with all Keenan Development projects, the Natural Resources Research Center and Campus were completed on time and within budget.
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