Meeting a public need with private expertise

Red Draw partners with universities and other public entities to meet a public need with private expertise. We offer a hands-on approach to P3 financing and bring a wealth of knowledge and development experience to ensure client satisfaction on every project.

Development Experience

Our Developers

Craig Turner

Principal, Lead Developer

Garyen Denning

Principal, Developer​

Megan Walsen

Principal, Developer

A RED DRAW SPECIALTY

Public-Private Partnerships

A P3 allows public entities to benefit from dependable facilities while the development, construction and maintenance are managed privately.

Public-Private Partnership (P3): Allows a private developer to design, build, finance, own, and maintain the building for a set period of time. Once the bidding process has concluded, the selected bidder is responsible for all risks and cost structures for the project. The public entity will sign a long-term lease on the property, and at the end of the lease the property and assets will transfer to the university.

How It Works

P3s work by allowing a private developer to design, build, finance, own, and maintain the building for a set period of time. The P3 process transfers all risk to the developer for project financing, construction performance, and long-term maintenance. The private developer must deliver the project on time and within budget and assume the associated risks. In addition, P3s are financed by the developer so that the balance sheet of the public entity is not affected as it would be by direct funding. The public entity instead has a leasehold interest in the asset in its entirety

 

The private developer is responsible for maintenance of the building over the lease term.

A portion of the lease payment is allocated for ongoing operations and maintenance as well as infusion of capital reserve funds to be used as needed on the asset. This methodology ensures that funds will be available and the asset will be maintained for the life of the lease, allowing the public entity to obtain a well-maintained and valuable asset.

Once the bidding process has concluded, the selected bidder is responsible for all risks and cost structures for the project.

The public entity will sign a long-term lease on the property, and at the end of the lease the property and assets will transfer to the public entity.

Our Process

01

DESIGN
A comprehensive design plan is developed based on the needs of the public entity, spanning from site work to a detailed review of all aspects of the project.

02

DEVELOP
A customized financial and construction program is created based on the public entity’s needs, budget and timeline.

03

BUILD
The project is constructed within the agreed upon timeline and budget.

04

LEASE
The asset is leased back to the public entity for a predetermined timeframe, based on the entity’s needs.

05

MAINTAIN & REPAIR
Red Draw manages all maintenance and repairs during the lease period to preserve the integrity of the project over the life of the lease term.

06

TRANSFER TO PUBLIC ENTITY
After the lease period, ownership of the space will be transferred to the public entity.

Let's Work Together