Higher-Education P3s Continue to Gain Momentum

Last week, the Michigan State University Board of Trustees authorized the negotiation of a comprehensive public-private partnership (P3) agreement with the winning proposer for a planned expansion of the university’s health and research facilities at the Grand Rapids campus. The decision marks one of many recent success stories for higher-education P3s. We previously wrote about a recent judicial decision that facilitates P3s for student housing, and a P3 for off-campus student housing at Florida International University recently reached financial close. This is consistent with a larger, national trend towards P3s for student housing. The P3 model provides several benefits to higher-education institutions, including: the provision of a higher quality housing product (student housing often plays an important role in recruitment) the transfer of risks to the private sector, and the retention of school personnel and financial resources for educational projects more…

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