FEBRUARY 2026
P3s are emerging as powerful tools for shaping the future of campuses and communities. No longer just financial mechanisms, P3s now serve as strategic frameworks that help institutions meet rising expectations, navigate fiscal constraints, and pursue sustainability goals. In this white paper, New England Institutions Market Leader Chris Lovett explores how P3s are being used across the region to create vibrant, inclusive, and resilient environments—and why collaboration is key to their success.
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What Are P3s and Why Do They Matter?
At their core, P3s are collaborative agreements between public institutions and private-sector partners. These partnerships are designed to finance, design, build, own, operate, and/or maintain mission-driven projects that align public purpose with private innovation.
- A model for shared investment and responsibility.
- Enables institutions to pursue ambitious goals without bearing full financial or operational risk.
What’s Driving the Rise of P3s?
Institutions are facing mounting pressures—from budget limitations to the need for more inclusive and sustainable development. P3s offer a flexible, adaptive approach to meet these challenges.
- Fiscal constraints are pushing institutions to explore risk-sharing models.
- Universities and industries are teaming up to create innovation ecosystems.
- P3s are helping address housing shortages in college towns.
- Cities are revitalizing underused land through mixed-use, anchor-driven districts.
- Sustainability is becoming a central design principle in partnership planning.
Real-World Examples of P3 Impact
Across New England, P3s are delivering tangible results. These projects showcase how thoughtful collaboration can lead to transformative outcomes.
- The Corner Development (Merrimack College): Mixed-use gateway with housing, academic space, and wellness amenities.
- Summit at Jupiter (Dartmouth College): LEED Gold graduate housing with green infrastructure and mobility solutions.
- The PVD Labs: Life sciences incubator in Providence, anchored by Brown University.
- Dorchester Bay City: Inclusive redevelopment led by Accordia Partners and UMass Building Authority.
What Makes a P3 Successful?
Successful partnerships don’t happen by accident—they’re built on trust, clarity, and shared purpose. The most impactful P3s are those that prioritize long-term resilience and community value.
- Early alignment on shared goals.
- Clear risk/reward structures.
- Authentic community engagement.
- Integrated technical experience.
- Adaptive governance to support long-term resilience.
VHB’s Role in P3s
VHB plays a unique role in bridging the gap between public vision and private execution. With deep experience and a collaborative mindset, VHB helps bring complex ideas to life.
- Serves as a connector between stakeholders.
- Provides planning, engineering, environmental, and mobility experience.
- Translates vision into buildable, impactful solutions.
Read or download the full P3 White Paper or connect with Chris Lovett.