The US K12 sector sees its first Alternative Construction Finance program

In January 2021, Prince George’s County Public Schools (Maryland) and its private partners announced they had reached financial close. The deal—a first of its kind in the US—will deliver 8,000 seats across 6 new schools. PGCPS will save approximately $174 in deferred maintenance and construction costs, and will benefit from a drastically reduced delivery time. The development team will receive payments over 30 years.

Learn more about the project from PGCPS’s fact sheet.

In the coming months, we hope to tell you more about the partnership approaches we’re increasingly seeing in the K12 sector—both pioneering ones like this, and also ones that have been well-established in schools across the country. These stories are not Higher Ed P3 stories, but they speak to one another. K12 can take lessons from the higher ed world, whose recent history includes the widespread adoption of P3s as a delivery method. And soon enough, higher ed will be able to take lessons from the K12 world.