A “vision” – the seed of any ppp – is nothing unless it’s…


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A “vision” – the seed of any PPP – is nothing unless it’s…

  • A “vision” – the seed of any PPP – is nothing unless it’s…

    • Supported – There needs to be a “champion” behind the PPP!
    • Articulated – Precisely what is that you want/need to achieve and why?
    • Shared – Equally understood and embraced by both/all partners.
    • Sustained – “Durable” enough to survive, even if/as stakeholders change.


Not a replacement for traditional procurement methods. Simply “another tool in the tool box” that encourages creativity, helping define problem statements and craft corresponding business solutions (beyond just “bricks and mortar”).

  • Not a replacement for traditional procurement methods. Simply “another tool in the tool box” that encourages creativity, helping define problem statements and craft corresponding business solutions (beyond just “bricks and mortar”).

  • Need not exist only when private-sector financing is involved. Consider as means of overcoming common project constraints:

    • Time – Achieve faster delivery (can be 25% to 50% sooner), critical for meeting internally or externally-driven deadlines.
    • Dollars – Reduce cost through efficiencies gained by turnkey/streamlined delivery.
    • Staff – Overcome human resource constraints (privatizing “non-core” operations, if need be).
    • Risk – Outsource to achieve appropriate allocation/balance of risk among project partners.


If private-sector financing is involved, candidate project must:

  • If private-sector financing is involved, candidate project must:

    • Have dedicated revenue stream associated with it;
    • Involve some sort of in-kind exchange, such as surplus land for private development;
    • Provide opportunity for tax-increment financing (or similar); and/or,
    • Provide opportunity to “monetize” existing assets of public sector partner (for example, sale-leaseback transactions).


Balance program objectives with resource realities, promoting creative solutions through bundled delivery.

  • Balance program objectives with resource realities, promoting creative solutions through bundled delivery.

  • Increase flexibility and speed of delivery, overcoming constraints borne of traditional procurement process.

  • Take more strategic approach toward debt management and planning of capital projects, mitigating construction/operating cost escalation and preserving borrowing capacity for core facilities.



Scope = Design / Build / Furnish / Finance:

  • Scope = Design / Build / Furnish / Finance:

    • 152-bed, 105,000 SF on-campus apartment-style housing and retail.
    • Ground lease from University to 501(c)(3) Foundation and building lease vice-versa.
    • Tax-exempt and taxable debt issued through Prince William County Industrial Development Authority.
    • Retail leasing, financing, fit-out, and management by Gilbane Development Co.


Scope = Design / Build / Furnish / Finance:

  • Scope = Design / Build / Furnish / Finance:

    • 75,000 SF on-campus life sciences lab building.
    • Ground lease from University to 501(c)(3) Foundation and building lease vice-versa.
    • Tax-exempt and taxable debt issued through Prince William County Industrial Development Authority.
    • “Incubator Space” on 3rd Floor.




Scope = Design / Build / Furnish / Interim Finance:

  • Scope = Design / Build / Furnish / Interim Finance:

  • Driver: Consolidate campus from ~400 to ~80 acres to create surplus acreage ($) to benefit patient initiatives.

  • 150-bed, 188,000 SF psychiatric intermediate care facility specializing in adult patients.

  • Replaces nine buildings with one.

  • Embraces “House, Neighborhood, Downtown” patient treatment model.

  • Featured in Behavioral Healthcare magazine.





Scope = Design / Build / Furnish / Finance / Own / Operate:

  • Scope = Design / Build / Furnish / Finance / Own / Operate:

    • 540-bed, 160-unit, 285,000 SF apartment-style student housing.
    • Referral agreement from VCU.
    • Fully-furnished apartments (including flat screen TVs) plus lounges, fitness center, courtyards, 200-car garage, etc.
    • Every bedroom has private bathroom.
    • 15-month delivery from land closing to student occupancy.
    • VCU’s needs met without committing its own capital.
    • www.8onehalfcanal.com


Scope = Design / Build / Furnish / Finance / Own / Operate:

  • Scope = Design / Build / Furnish / Finance / Own / Operate:

    • 406-bed, 136-unit, 260,000 SF apartment-style student housing.
    • Referral agreement from VCU.
    • Fully-furnished apartments (including flat screen TVs) plus lounges, fitness center, courtyards, 200-car garage, etc.
    • Every bedroom has private bathroom.
    • Includes adaptive reuse of historic building and partial tax abatement.
    • VCU’s needs met without committing its own capital.
    • www.1200westmarshall.com


Scope = Design / Build / Finance / Own / Operate:

  • Scope = Design / Build / Finance / Own / Operate:

    • Mixed-use development at “front door” to University of Rochester.
    • 110,000 SF of street-level retail and restaurants (including Barnes & Noble and Constantino's Market), 50,000 SF of Class A office space, 155,000 SF of residential space, 136-room Hilton Garden Inn, and 1,600-space parking garage.
    • Support university’s mission, strengthen surrounding neighborhoods, increase tax revenue, and create jobs.
    • U of R’s needs met without committing its own capital.
    • www.collegetownrochester.com


Scope = Design / Build / Furnish / Finance:

  • Scope = Design / Build / Furnish / Finance:

  • Development feasibility study (dovetailed with findings of independent market study).

    • 126-bed apartment-style residence hall (delivered 11 months from agreement to occupancy).
    • 100 on-campus parking spaces.
    • Co-developer agreements regarding off-campus sewer and water extensions to site.
    • Ground lease from College to 501(c)(3) Foundation and building lease vice-versa.
    • Tax-exempt debt issued through Maryland Economic Development Corporation (MEDCO).








Scope = Operating (Master) Lease with Purchase Option:

  • Scope = Operating (Master) Lease with Purchase Option:

  • 1031 exchange of Fairfax, Virginia asset

  • Acquisition of B of A (formerly Fleet Bank) assets:

    • 1912 – 12 stories, 350,000 SF (historic)
    • 1973 – 28 stories, 370,000 SF
    • Common lobby and HVAC/sprinkler systems
  • Adaptive reuse of 1912 building for RISD:

    • Retire 100-year ground lease
    • Integrate shared access and utility easements
    • Consolidate office uses into 1973 building
    • Create living-learning center:
      • Library and museum: Floors 1 & 2
      • Student housing: Floors 3 - 11
      • Student union (food service): Floor 12
    • 20-year operating lease (options to 50 years)
    • Distinct windows for purchase options:


Scope = Design / Build / Furnish / Finance:

  • Scope = Design / Build / Furnish / Finance:

  • 158,000 SF, five-story government center including administrative headquarters and 418-car garage.

  • Scattered operations consolidated in two locations and capitalized using tax-exempt bonds, creating ~$1 million in annual savings (~$22 million over lease term).

  • County outsourced financing, design, development and construction risk, realizing significant savings.

  • Project-specific 501(c)(3) ownership entity established by Gilbane.

  • Site master planned to accommodate future expansion.





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