Home renovations cost $325M through P3/PPP

The New York City Housing Authority will invest $325 million for a public-private renovations plan. Through the federal Rental Assistance Demonstration program, the partnership will provide funding for renovations to the Ocean Bay Housing Authority development. Improvements will take place on 1,400 housing units at Ocean Bay that are home to 3,700 residents.

Ocean Bay was damaged during Hurricane Sandy in 2012, and the complex needs roof work as well as new boilers and heating systems and upgrades to elevator machinery. Renovations are also needed on interior and exterior lighting, kitchen and bathroom repairs and installation of new security cameras and new secure entry systems.


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Delaware DOT using P3/PPP to build garage

The Delaware Department of Transportation (DelDOT) is planning a public-private partnership with a Delaware developer to build a three-story parking garage next to the Wilmington train station.

The project will include a multi-story parking garage for buses, rental cars and public parking on state-owned property. The land, which is one block from the train station, is currently a rental car lot.

The plan calls for a bus staging area on the ground floor of a two- or three-story garage. Upper levels would accommodate public parking and rental cars.

The Wilmington train station serves passengers using Southeastern Pennsylvania Transportation Authority regional rail trains bound for Philadelphia and Amtrak intercity trains along the Northeast Corridor.

New Orleans considering P3 for railroad

New Orleans officials are considering improvement options for the Public Belt Railroad, a system that includes 25 miles of railroad track that connects six rail lines to the New Orleans port and industrial facilities. The city-owned railroad is in need of capital improvements. While the city may invest the necessary funds outright, officials are also considering a public-private partnership (P3/PPP) with a private operator. The city plans to solicit proposals from potential P3 partners. Initial proposals will be non-binding in order to gauge interest.


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Oklahoma P3 opens $17M interchange

An Oklahoma public-private partnership (P3/PPP) has opened a $17 million interchange on Interstate 40 in El Reno, Okla. The P3, which includes the state department of transportation and an energy company, began building the Radio Road interchange about a year ago. The energy company paid the state’s part of the construction costs and secured right-of-way to add the interchange. The project included reconstruction and widening of the Radio Road Bridge over I-40 and adding new ramps.


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