We represented Whitehelm Capital, acting through its Smart City Infrastructure Fund (“SCIF”) dedicated to investing in smart city projects globally utilizing next-generation digital infrastructure, in its equity investment in and joint venture with SiFi Networks to construct its first East Coast FiberCity™, a city-wide fiber network to be used by both business and residential locations in Salem, Massachusetts.
The deal was structured as a joint venture. SiFi, an experienced international network developer, will provide the day-to-day operational support and management of the company. The project will offer Salem businesses and homes access to state-of-the-art smart city applications, including e-education, e-health and waste management. As a smart city, its proximity to Boston will enable it to attract and retain businesses, while its high-speed connectivity will facilitate telecommuting.
Construction is set to commence soon with anticipated completion in 2022. SCIF plans to install its city-wide fiber networks in 20 US cities in the coming year to accommodate the growing demand for high quality, reliable digital infrastructure.