{"id":35743,"date":"2026-06-19T06:18:15","date_gmt":"2026-06-19T13:18:15","guid":{"rendered":"https:\/\/essential.construction\/news\/walsh-turner-jv-gets-green-light-on-580m-utility-plant-project\/"},"modified":"2026-06-19T06:18:15","modified_gmt":"2026-06-19T13:18:15","slug":"walsh-turner-jv-gets-green-light-on-580m-utility-plant-project","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/walsh-turner-jv-gets-green-light-on-580m-utility-plant-project\/","title":{"rendered":"Walsh-Turner JV gets green light on $580M utility plant project"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"text-to-speech\">\n    <button class=\"text-to-speech__button button\"><br \/>\n        <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.constructiondive.com\/static\/img\/play.svg?313321260226\" alt=\"-\"><br \/>\n        Listen to the article<\/p>\n<p>            <span class=\"text-to-speech__button__audio-length\">2 min<\/span><\/p>\n<p>    <\/button><\/p>\n<div class=\"text-to-speech__controls\">\n        <audio controls=\"\" class=\"js-text-to-speech\" preload=\"none\"><source src=\"https:\/\/text-to-speech.divecdn.com\/newspost\/823303\/2026-06-18_12.57.15\/walsh-turner-jv-university-kentucky-utility-plant-project.wav\" type=\"audio\/mp3\"><\/source><\/audio><\/p>\n<div class=\"text-to-speech__controls__text\">\n            This audio is auto-generated. Please let us know if you have <a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/contact\/\" target=\"_blank\">feedback<\/a>.\n        <\/div>\n<\/p><\/div>\n<\/div>\n<p><span><span><span><span><span><span>A joint venture of Walsh Construction and Turner Construction received the go-ahead to proceed on a key piece of infrastructure at the University of Kentucky in Lexington.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Kentucky Infrastructure Partners \u2014 which includes developers and the maintenance firm alongside the JV \u2014 reached financial close on the <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.turnerconstruction.com\/insights\/kentucky-infrastructure-partners-achieves-financial-close-on-uk-central-utility-plant-project\" target=\"_blank\"><span><span><span><span><span><span><span><span>$580 million Kentucky Central Utility Plant Project<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>, according to a June 11 announcement from Turner.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>That $580 million sum will go toward the design, construction, financing, operation and maintenance of the facility, per the news release, alongside upgrades to the school\u2019s district energy distribution systems. KIP will operate the facility for the next 30 years.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The new central utility plant will be a critical component of the university\u2019s long-term campus infrastructure strategy, according to the announcement. It will deliver expanded heating, cooling and backup power capacity that will support major infrastructure initiatives at the school, which include the expansion of the university\u2019s Albert B. Chandler hospital.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>In addition to the plant, the construction team will install new distribution piping and system connections across campus; modernize and optimize existing utility systems; and create backup power infrastructure for critical healthcare facilities. Construction is expected to be complete in 2029.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Besides New York City-based Turner and Chicago-based Walsh, the other members of KIP include developers Plenary Americas and Walsh Investors, along with maintenance firm Noresco.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The project is being financed through the issuance of tax-exempt Series 2026A Senior Revenue Bonds with an approximate par amount of $424 million. Sponsor equity and other funding sources form part of the overall $580 million capital structure, according to the news release.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The Walsh-Turner JV has recently taken on other major higher-ed projects across the country. In July 2024, a Walsh-Turner team <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/turner-walsh-breaks-ground-northwestern-university-stadium\/722711\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>broke ground on the new Ryan Field<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>, an $800 million football stadium for Northwestern University.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Then, in March, the contractors finished work on a <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/walsh-turner-jv-ohio-state-university-hospital-wexner\/815657\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>$1.5 billion hospital at Ohio State University in Columbus<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.constructiondive.com\/news\/walsh-turner-jv-university-kentucky-utility-plant-project\/823303\/\" rel=\"nofollow noopener\" target=\"_blank\">This article was originally posted at Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Listen to the article 2 min This audio is auto-generated. Please let us know if you have feedback. A &#8230; <a title=\"Walsh-Turner JV gets green light on $580M utility plant project\" class=\"read-more\" href=\"https:\/\/essential.construction\/news\/walsh-turner-jv-gets-green-light-on-580m-utility-plant-project\/\" aria-label=\"Read more about Walsh-Turner JV gets green light on $580M utility plant project\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[457],"tags":[],"class_list":["post-35743","post","type-post","status-publish","format-standard","hentry","category-construction-dive","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/35743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/comments?post=35743"}],"version-history":[{"count":0,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/35743\/revisions"}],"wp:attachment":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/media?parent=35743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/categories?post=35743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/tags?post=35743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}