Prince George’s County Public Schools builds on success of historic P3 design-build-finance-maintain agreement
JLL has been selected again to advise PGCPS as they seek to utilize a second agreement to deliver additional schools to the community
WASHINGTON, Mar. 15, 2022 –JLL announced today that it has been selected by Prince George’s County Public Schools (PGCPS) as its lead consultant and financial advisor for a second public-private partnership (P3) design-build-finance-maintain (DBFM) agreement that will accelerate the delivery of additional urgently needed schools in Prince George’s County, Maryland. In 2021, PGCPS became the first K-12 school system in the United States to utilize a P3 as a means to transform its school system and build schools that its students deserve.
“This second phase speaks to the power and potential of utilizing K-12 school P3 agreements to rapidly add new schools while contractually ensuring that they are well maintained over a 30-year period,” said Bob Hunt, Managing Director, Education and Government, JLL. “The expedited delivery of schools will support the education of thousands of students and save the county millions of dollars over the 30-year term of the agreement. Most importantly, it will provide desperately needed schools to underserved communities in a rapidly growing county.”
Under the traditional capital program approach, one school typically takes around seven to eight years to build, and each school is funded and developed sequentially. In comparison, the initial P3 agreement (known colloquially as Blueprint Schools Phase I) will simultaneously deliver six new schools to PGCPS by July 2023, serving more than 8,000 students. Blueprint Schools Phase II will be similar to Phase I by providing an accelerated delivery model for K-12 schools.
“We are happy to continue our relationship with JLL, which began with the initial P3 project, now under construction. We are confident the JLL team brings the expertise and sensitivity necessary to help us deliver great results on a project that will benefit the children of Prince George’s County for generations,” said Jason Washington, PGCPS’s Director of the Office of Alternative Infrastructure Planning and Development.
JLL is the premier provider of strategic real estate advisory for local, state, national and federal governments as well as public and education institutions. Its national team covers the entire real estate lifecycle from strategy, public private partnerships, facilities management and sustainability services to transaction and project management. JLL brings both the experience and expertise to convert real estate portfolios into working assets that meet operational and occupancy requirements while generating revenues and reducing costs. Visit us.jll.com/government.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.