What Edgemoor Infrastructure & Real Estate lacks in local name recognition, the Bethesda, Md.-based firm makes up for in aviation experience in the eyes of the KCI selection committee.
Edgemoor was recommended by a six-member selection committee on Wednesday to pursue the KCI single terminal project. The full Kansas City Council, of which some of its members say they have plenty of questions about the recommendation, would have to reach an agreement with Edgemoor. And then the voters would need to approve a new terminal before Edgemoor gets to work at KCI.
Here are five things to know about Edgemoor:
1. Who is Edgemoor, and who else is on their team?
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Edgemoor is an affiliate of Clark Construction Group, a large construction firm also based in Bethesda, Md. Clark Construction reports that it does about $4 billion in annual sales, about twice what Burns & McDonnell reports. Edgemoor is big on public-private partnerships.
Edgemoor’s managing partner is Geoffrey Stricker, who said Wednesday he is looking forward to working with Kansas City. The Edgemoor team has accomplished about $63 billion in aviation work and $50 billion in design-build projects, according to a city memo released on Wednesday at City Hall.
The Edgemoor team also said it has closed on $10 billion in public-private partnerships and has experience working with Southwest Airlines, United Airlines, American Airlines and Delta Airlines.
Edgemoor’s co-developer on the KCI project is Meridiam, a Paris-based asset manager and investor in public infrastructure projects. Meridian’s recent airport experience includes a role as co-lead equity member and developer of the $4 billion LaGuardia International Airport Terminal B project in New York. That project is a public-private partnership with the Port Authority of New York and New Jersey and is one of the largest airport projects currently under construction in the U.S.
2. After all the talk about local companies, does Edgemoor have local ties?
Yes. Also on the Edgemoor team is Clarkson Construction, a major local general contractor.
Clarkson Construction’s history in Kansas City dates back to 1880. Its former president, William Clarkson, was a heavyweight in local civic affairs in the 1970s and 1980s. William Clarkson passed away last year.
“We believe that Edgemoor offers Kansas City and its citizens the most flexible solution for design and financing, provides the greatest value, and will deliver a new terminal for Kansas City that reflects the community’s involvement and input,” said Bill Clarkson, president of Clarkson Construction, in a written statement.
Also part of the Edgemoor team is the Weitz Company, which is based in Des Moines and has a presence in Lenexa. The Weitz Company bills itself as a national general contractor. The Weitz Company in 2012 was purchased by Orascom Construction, a multinational commercial construction firm based in Cairo, Egypt.
3. Does Edgemoor have any local projects that people in Kansas City might recognize?
Yes. Edgemoor in May wrapped up its work on a 545-bed residence hall at the University of Kansas, which was a public-private partnership. The residence hall was part of the larger Central District project at the KU campus in Lawrence. The KU Central District project is a vast facilities project that includes an academic science building, a student union, three residential halls and a parking garage.
Other local projects by the Edgemoor team include the Bartle Hall expansion, the Kansas State University Innovation Campus in Olathe, the Kit Bond Bridge and taxiway rehabilitation at the Charles B. Wheeler Downtown Airport.
4. Why did the KCI selection committee like Edgemoor’s proposal?
City officials said on Wednesday that the flexibility in Edgemoor’s financial approach, which offered an option for 100 percent debt financing, was attractive. The committee was also keen on a detailed timeline that sought to complete the terminal by Nov. 1, 2021.
The committee also seemed to appreciate Edgemoor’s quiet approach in the procurement process with the city; it never released details of its plan and rarely commented publicly about the process.
5. What is the Edgemoor team’s experience in aviation projects?
Clark Construction’s portfolio includes several terminal projects. Among those is a $151 million terminal B project at San Antonio International Airport in 2010, a $280 million south concourse project at Seattle-Tacoma Airport in 2004 and a $256 million terminal renovation at Tom Bradley International Airport in Los Angeles.