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Garney Reaches Financial Close on Vista Ridge Water Supply Project

NOVEMBER 2016 — Financial close has been reached on the Vista Ridge Water Supply Project, allowing Garney to begin overseeing the design, construction, and financing of a 142-mile pipeline. As one of the fastest-growing cities in the nation, the 142-mile pipeline is a critical project for San Antonio as it will deliver 16.3 billion gallons of water to the rapidly growing community.

 

The San Antonio Water System (SAWS) board voted unanimously to consent to the financial close. Garney will continue to assume the regulatory, financial, and construction risk of the project. This public-private partnership (P3) venture is a significant milestone for Garney. It signifies Garney’s ability to invest in the financial and logistical requirements to undertake the $927 million program.

 

Vista Ridge will expand San Antonio’s water supply by 20 percent, decreasing pressure on the sensitive Edwards Aquifer, which is subject to federal, state and regional pumping regulations. SAWS is a national leader in water conservation, and the Vista Ridge pipeline will complement SAWS’ continued conservation efforts and development of other water resources as San Antonio adds one million residents by 2040.

 

Construction is set to begin in early 2017 and last through 2019, with water flowing in early 2020. SAWS and its customers will only pay for the water that actually makes it to San Antonio. After 30 years, in 2050, SAWS would own the pipeline.

 

“Achieving financial close is a huge milestone and development of this important project,” said Scott Parrish, Chief Operating Officer of Garney Construction. “Our team is ready to commence construction and be in a position to deliver water to San Antonio in 2020.”

 

Photo by JOEY PALACIOS TEXAS PUBLIC RADIO