With California facing a $1 trillion infrastructure deficit between now and 2050, a new Bay Area Council Economic Institute report explores how public-private partnerships (P3) can accelerate infrastructure delivery. According to the report, P3 methods are extremely effective in mobilizing private capital, speeding project delivery and better maintaining public infrastructure through life-cycle management. Read the report>>
The report – the latest in a series – assesses how the P3 model has evolved, analyzes projects completed in the last five years, assesses upcoming projects, and identifies future projects that could benefit from P3 delivery in the future. It also looks at steps state and federal governments, as well as the private sector, can take to build a larger pipeline of P3 projects.
One major promising project featured in the report is the potential redevelopment of the Sonoma County and Santa Rosa City civic centers, which could represent up to 700,000 square feet of government offices, as well as mixed-use retail and housing development on approximately 100 acres. Following last November’s devastating wildfires, the Economic Institute is working closely with public and civic leaders in the North Bay to build more resilient and inclusive communities and this project is key to achieving that goal. Developers and financiers who are interested in learning more should fill out this survey>>