July 2014, Balfour Beatty reached financial close with construction expected to be complete in late 2017 on North Island Hospitals Projects – two, new acute care hospitals on Vancouver Island, British Columbia. The 30-year PPP project on behalf of Island Health, will cover the financing, design, construction and facilities management of the Campbell River Hospital and Comox Valley Hospital. Balfour Beatty Communities will deliver soft facilities management services.
November 2014, the Canadian Council for Public-Private Partnerships awarded the project with the Infrastructure Sustainability Award. The LEED Gold standard facilities represents the first time a green bond has been used to fund a PPP project in North America and the first time a green bond has been issued to finance public infrastructure in Canada.
March 2015, IJGlobal Americas Awards, given by Infrastructure Journal and Project Finance Magazine, awarded the project as the honoree in the North American Social Infrastructure category. The event recognised the market-leading transactions in infrastructure and energy finance from 2014.
October 2015, North Island Hospitals Project was recognised for its innovation and leadership in social infrastructure development by being named the Silver Award Winner, Best Social Infrastructure Project North America at the North America P3 awards.