Industry Perspectives Op-Ed: Companies of every size can participate in upcoming public-private partnership engagements - constructconnect.com

Public-private partnership engagements are continually becoming more common because of two basic reasons.

All P3 engagements include an investment of private sector capital. The revenue may not cover the entire project cost, but that is often the case. Federal funding for large projects often requires a public entity to seek private sector investors willing to invest along with the federal government. Examples of upcoming P3 projects to be launched soon follow. The examples demonstrate the various types and sizes of P3 engagement opportunities that are available now.

The original 163,400-square-foot building has deferred maintenance needs and is overdue for upgrades. Since the building is owned by the state, the Department of Administration will oversee the project. This effort is moving quickly, and solicitation documents could be issued late in 2023, but definitely by early 2024. Plans outlined indicate the preferred revenue model for payback of the capital investment will be a lease contract with the private sector partner.

Revenue from that effort will offset some of the cost of construction, operation and maintenance of the stadium. Planning documents indicate the new stadium will be operational by 2028. A $66 million project to construct a hotel and convention center is planned for Seguin, Texas. The feasibility study validated the economic results, recommended the project, and outlined construction options. The plan is to deliver a 200-room hotel with convention space nearby. A private sector partner will be selected and both components of the effort will be included in one overall initiative.

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