Introduction to Balfour Beatty Campus Solutions · 2017-09-18 · About Balfour Beatty Applies...
Transcript of Introduction to Balfour Beatty Campus Solutions · 2017-09-18 · About Balfour Beatty Applies...
About Balfour Beatty
Applies Public-Private
Partnership (P3)
methodologies to higher
education development
projects
Focuses on the unique
needs of campus
planning for colleges and
universities
Draws its strength from
the worldwide family of
companies
$13 Billion in P3 projects
executed globally
Construction
Management
P3 Investment
Property
Management
Higher Education
Development
“We found the right
partner in Balfour
Beatty. From quality of
construction, to their
attention to detail, and
their focus on students’
success - we hope
they’ll be here with us in
the long run as we carry
Tarleton State
University into the
future.”
Dr. F. Dominic Dottavio
15th President of Tarleton State
University
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BALFOUR BEATTY IS RESPONSIBLE FOR OVER
Beds Designed and
Built in CaliforniaFLEXIBLE FINANCING APPROACH
1. Taxable Equity Structure - (Developer Owned)
2. Tax-Exempt Bond Structure - (Foundation Owned)
3. Concession Model - (Taxable or Tax-Exempt)
AWARD WINNING PROPERTY
MANAGEMENT TEAM –
BALFOUR BEATTY COMMUNITIES
UNDER LONG-TERM MANAGEMENT
50,000
120,000
UNITS
BEDS
$13B IN P3 GLOBALLY
$6B IN P3 IN NORTH AMERICA
(including Campus Projects)
3 OPTIONS
5,100
IN-HOUSE
RENOVATION
EXPERTISE 2,000
Units Operated
in California
31,000 UNITS
$900M+DEVELOPED
Mission Driven Partnerships
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Recent On-Campus Projects Delivered
Moore Hall Redevelopment
Lake Forest College, Lake Forest, IL
Innovation Village Apartments
Florida Atlantic University, Boca Raton, FL
Ponderosa Village
University of Nevada, Reno, Reno, NV
Aspire at West Campus, Phase 1
University of Iowa, Iowa City, IA
Northside
University of Texas at Dallas, Dallas, TX
White Creek Apartments
Texas A&M University, College Station, TX
Multi-Phase Development 3, Honors Hall/Traditions
Hall, Tarleton State University, Stephenville, TX
Multi-Phase Development 2, Integrity Hall, Tarleton
State University, Stephenville, TX
Multi-Phase Development 1, Heritage Hall, Tarleton
State University, Stephenville, TX
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Tax Exempt Structure
• Project Financed through
501(c)(3) Foundation on 32-40
year ground lease
• Balfour Beatty is Fee Developer
• College receives 100% of Net
Cash Flow
• College or Developer operates
• Opportunity to purchase existing
housing
• Project reverts to College at end
of ground lease
• Off Balance Sheet Treatment
Description
ArchitectContractor
Ground Lease
(New and/or Existing)
Construction Contract A&E
Contract
Property Mgmt
Agreement
Financial UnderwriterNon-Profit Entity
Project
Funding
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College
• Attract out-of-region and international student
• Offer a housing solution closer to campus
• Diversify College’s revenue sources
• Support student outcomes:
– Retention / Persistence / Graduation
– Support student engagement and GPA
– Prepare for life at a 4-year institution
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Why do Community Colleges Offer Housing?
A Path Forward
Procurement - PDA
(Oct 2017 – Dec 2017)
Implementation Stage
Mar 2018 – Mar 2019
Feasibility Stage
Dec 2017 – Mar 2018
Delivery Stage
(Apr 2019 – Aug 2020)
• Interview / Clarifications
• Award / BOT Approval
• Pre-Development Agreement
• SmartStart + Project Visioning
• Market Study
• Project Finance Planning
• Schematic Design / Master Planning
• Conceptual Cost Estimating
• Entitlements
• Design
• Financing
• Ground Lease
• Mobilization
• Groundbreaking
• Renovation Works
• Safety Regime / Zero Harm
• 90 Days
• 120 Days
• 13 months
• 16 months
* Activities in red involve key decisions, approvals or discussion on the critical path to achieving the schedule