Dive Brief:
- Providence, Rhode Island-based Gilbane Building Co. released its 2023 annual report last month, detailing its efforts in public-private partnerships, health sciences and projects in the advanced manufacturing space.
- The company’s revenue rose to $7.3 billion, an approximately 12% increase from 2022’s $6.5 billion, according to the report. It was also recognized last year as the No. 1 builder in the electronic assembly, educational and green educational facilities categories by Engineering News-Record.
- Gilbane emphasized its public-private partnership practice. The firm believes that higher education projects will be the foundation for its P3 work, and highlighted its delivery of six K-12 public schools in Prince George’s County in Maryland, a first-of-its-kind endeavor.
Dive Insight:
Gilbane, as a private company, isn’t required to report quarterly financial results and releases an annual report that gives a broad overview of the state of the firm instead, though the contents can differ. For its retrospective on its work in 2021, the company released an ESG report.
Though the company’s P3 work gravitates toward K-12 and higher education, it noted expansion in these project types to research buildings, athletic venues and energy plants, per the report.
Other P3 projects the company highlighted include:
- University of South Carolina Health Sciences Campus: Gilbane is leading the planning, design, development and construction of the university’s $300 million health sciences campus in the BullStreet District in downtown Columbia, South Carolina.
- Rhode Island Public Transit Authority’s Providence Transit Center: Gilbane is leading Next Wave Rhode Island Partners as the developer and design-builder on the project. Across two phases, Gilbane, as part of Next Wave, and the transit authority will complete a new transit center with a housing component in Providence. Initial estimates priced the project at $77 million, per the Rhode Island Current.
- Eastern Michigan University’s OnCampus Student Housing Program: Gilbane is leading a $212 million project that will see the builder add 700 beds across two new buildings and renovate existing facilities.
In addition, the company also highlighted other large, existing projects with long tails that it’s working on, including the $20 billion Intel Ohio plant and a new stadium for the NFL’s Buffalo Bills, which the firm won in 2022. However, the latter has delayed its construction timeline to either 2026 or 2027, and the cost has risen to $1.7 billion on the Bills’ new home, per the Associated Press.
