Frontrunner for US schools P3

Maryland’s Prince George's County Public Schools (PGCPS) is to enter into an Exclusive Negotiation Agreement (ENA) with a P3 developer, P3 Bulletin understands.

Prince George’s County Education and Community Partners has been recommended for the contract to design, build, finance and maintain six schools. The P3 team includes Fengate, Gilbane, Stantec and Honeywell.

P3 Bulletin understands negotiations are at an early stage and the Board of Education must approve the award of the ENA.

Under the plans, the 60-day ENA period would culminate with commercial close, with financial close to follow no later that 45 days after.

The project is viewed as a pathfinder for the US market and comes as the P3 model comes under increasing scrutiny, as Maryland looks to complete the Purple Line light rail project, which is under construction in Prince George's County and Montgomery County.