The biggest news in the world of public-private partnerships (P3s) last year had nothing to do with toll roads—the most visible way governments partner with companies, Governing reports.
Instead, the most expensive deals were projects to build a car-rental facility and a small tram at Los Angeles International Airport.
Other significant P3s struck last year centered around student housing at Purdue University, a courthouse in Maryland and a replacement for a 155-year-old prison in Kansas, according to Inframation, a news and analysis service.
The only highway P3 in the mix last year didn’t even involve toll roads. The Michigan transportation department turned to a private consortium to design, build, finance and maintain a 5.5-mile stretch of Interstate 75 just outside of Detroit. Â
The wide variety of projects shows that once-controversial P3s are gaining acceptance in more quarters. The P3 field is changing in other ways, too, as a proliferation of deals with universities, airports and highways has led both investors and government agencies to reconsider their approaches. Read the full story.
