P3 – Not Just for Roads, Tunnels and Bridges

Much of the ink on P3 projects concerns horizontal construction. Meanwhile, vertical P3 projects move ahead. Last month’s announcement by the City of Indianapolis provides an example. The mayor (city council approval is still required; a related proposal is on the agenda for the January 12, 2015 council meeting) intends to award a contract for construction of a new complex to include a courthouse, correctional facilities, and law enforcement offices. The completed complex will be leased to the city for 35 years at an annual fee of slightly less than $47 million. Estimated construction cost exceeds $400 million.
Indianapolis has been in the forefront of public infrastructure privatization, and this project is one more example.

About Stan Martin

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Stan Martin holds a law degree and an undergraduate degree in architecture. He has been involved with the construction industry for more than 45 years, working in construction prior to law school and beginning his construction law practice. Over the course of his career, he has served on boards and committees for organizations including the Associated General Contractors of Massachusetts, the Boston Society of Architects, and the Massachusetts Building Congress.

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