From smaller projects to different sectors, new strategies are evolving at universities
by Sandra McQuain
“Where do I begin?” It’s the question many universities and colleges ask when embarking on P3s.
At the 2024 P3 Higher Education Summit in Washington, DC, last month, that question evolved into a more pressing one: “What’s next?”
One answer to that question appears to be embracing smaller projects, rather than the more traditional focus on major campus redevelopments, as economic pressures drive a shift toward more manageable projects.
Bridey Best, senior vice president at WT Partnership, said this was a clear trend coming out of the conference: “I would say smaller sized student accommodation projects and utility infrastructure projects will be the focus of 2025.”
Smaller schemes could be a reason why another trend was observed: a focus on bundling projects to achieve economies of scale.
Matt McCleary, vice president at WT Partnership, noted: “We’ve seen public agencies, including higher education, move away from treating projects as individual silos. Bundling projects can be more appealing to investors and developers, and that’s a positive step forward.”
Looking at the broader spectrum of P3 projects, Brad Noyes, Higher Education Co-President at Brailsford & Dunlavey, emphasized how universities are expanding their approach. “While student housing remains a priority, we’re seeing more interest in energy infrastructure and mixed-use developments,” he said. “Universities are adapting to meet evolving campus needs.”
Despite recent challenges, particularly in the energy sector, optimism about P3s remains strong: “The last 24 months have been challenging, especially in energy P3s, but the trend toward progressive development models is a positive sign,” said Andres Arbizu, vice president of corporate development at Centrio. “These models are fostering more collaborative partnerships between universities and developers.
Reprinted with permission from P3 Bulletin