June 13, 2017 by EllisDon
Mississauga, ON — This past weekend, Infrastructure Ontario (IO) and Sinai Health System announced they have selected EllisDon Capital Inc. to build and finance Sinai Health System’s Phase 3A redevelopment project at Mount Sinai Hospital.
“We are excited to reach commercial and financial close. EllisDon is looking forward to working with Sinai Health System and delivering the project safely and effectively,” said Joey Comeau, Vice President, EllisDon Capital.
The contract between EllisDon and Sinai Health System is a fixed-price contract for $288.5 million.
The project is a large-scale renovation of several key areas of Mount Sinai Hospital, including:
“We are proud to see this very complex project reach this important milestone and look forward to the start of work on the project in the coming months,” said Ehren Cory, president and CEO, Infrastructure Ontario.
This project is being delivered using Infrastructure Ontario’s Alternative Financing and Procurement (AFP) model, an innovative way of financing and procuring large, complex public infrastructure projects. IO and the Ministry of Health and Long-Term Care are working with Sinai Health System to renovate the facility, which will remain publicly owned, controlled and accountable.
Construction is set to being immediately with substantial completion expected to be reached by 2022.