The P3 (public–private partnership) concept is getting a tryout at the University of Kansas, where state funding for construction has fallen from 20% of project costs to about 11% over the last 10 years, according to James Modig, KU’s University Architect and Director of Design and Construction Management.
Despite those cutbacks, the university has $352 million worth of building projects in design or under construction this year, up from $100–150 million annually in recent years, says Modig.
Kansas is in the RFP stage of its first P3 project, a new “gateway” housing facility that will be a key component of KU’s Central District Plan, the centerpiece of its 2014–2024 Campus Master Plan.
In addition to providing capital funds, the owner will maintain the building during the projected 30-year lease. With a $300 million maintenance backlog and an annual maintenance budget of only $9.4 million, having a developer assume maintenance costs will be a welcome innovation, says Modig.
Learn more about P3 and other creative project financing strategies in BD+C's Special Report, “How your firm can help struggling colleges and universities meet their building project goals.”
Related Stories
| Aug 7, 2012
Shedding light on the arts
Renovating Pietro Belluschi’s Juilliard School opens the once-cloistered institution to its Upper West Side community.
| Aug 7, 2012
McCarthy tops out LEED Platinum-designed UCSD Health Sciences Biomedical Research Facility
New laboratory will enable UCSD to recruit and accommodate preeminent faculty.
| Jul 25, 2012
KBE Building renovates UConn dining hall
Construction for McMahon Dining Hall will be completed in September 2012.
| Jul 24, 2012
Military Housing firm announces expansion into student housing
The company has partnered with the military to build, renovate and manage nearly 21,000 homes with more than 65,000 bedrooms, situated on more than 10,000 acres of land nationwide.
| Jul 20, 2012
2012 Giants 300 Special Report
Ranking the leading firms in Architecture, Engineering, and Construction.
| Jul 20, 2012
Higher education market holding steady
But Giants 300 University AEC Firms aren’t expecting a flood of new work.
| Jul 16, 2012
Business school goes for maximum vision, transparency, and safety with fire rated glass
Architects were able to create a 2-hour exit enclosure/stairwell that provided vision and maximum fire safety using fire rated glazing that seamlessly matched the look of other non-rated glazing systems.
| Jul 11, 2012
Perkins+Will designs new home for Gateway Community College
Largest one-time funded Connecticut state project and first designed to be LEED Gold.
| Jul 9, 2012
Integrated Design Group completes UCSB data center
Firm uses European standard of power at USCB North Hall Research Data Center.
