Public-Private Partnerships (P3) are agreements between private entities and UC Davis that enable both the development and ongoing operations of privately owned assets such as student housing and hotels on campus property through a ground lease.
UC Davis has a long and successful track record delivering student housing projects through public-private partnerships. Existing P3 projects on campus serve both undergraduates (primarily upperclassmen) and graduates as well as first-year transfers and students with families. It is envisioned that P3’s will remain an important strategy in UC Davis’ goal of creating future housing opportunities on campus.
Real Estate Services (RES) is responsible for coordinating with our private developer partners on the development of all new P3 projects. Once projects are completed, ongoing P3 relationships are managed by either RES or the campus’ Student Housing & Dining Services (SHDS).
Campus P3 Projects
P3 Project Development Process
Real Estate Services engages with our private partners in an open and collaborative manner in order to mutually negotiate the unique complexities of each P3 project. The development process of a typical P3 project includes:
- Developer solicitation & selection (RFQ/RFP)
- Design charrettes & stakeholder input
- Predevelopment Agreement
- Term Sheet negotiations
- Pro forma financial feasibility analysis
- Market analysis
- CEQA/environmental analysis
- Design, engineering & due diligence
- Project financing
- Transaction documents- Ground Lease, Development Agreement, Management Agreement, etc.
- GMP Construction Contract, permitting
- Lease-up & operations