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Show Notes
Did you know that colleges and universities can tap into untapped revenue streams to fund capital projects and support their mission-oriented goals? Join Sarah Holtan, PhD as she explores innovative strategies to monetize existing assets for higher education institutions with John Duggan, Chief Operating Officer at The Concord Group.
John is an expert in monetizing assets for colleges and universities. He shares invaluable insights on how professional operators can take over operations while the school remains in control, turning liabilities into valuable assets. Discover how parking and central utility plants can be monetized to generate revenue, funding vital capital projects. Explore real-world examples of public-private partnerships, like Ohio State University’s half-billion-dollar stipend for their parking facilities.
Tune in as John reveals the importance of technology in project delivery systems, enabling collaboration and early input from subcontractors. Learn how prefabrication and offsite construction improve quality control and workforce conditions. Understand the significance of timing and politics in public projects and how private colleges have advantages in implementing these structures. Listen to practical advice on making quick decisions, setting realistic deadlines, and viewing existing assets with an open mind for additional revenue streams.
Episode Highlights
10:37 – In the collective agreement that happens between university, the college, and the operator, there are agreements in place about how much they can charge per space, how much they can increase their pricing over the term of the deal, whether it be 30 or 50 years.
17:30 – What some of this P3 or alternative project delivery methods allow us to do is because we take away some of the red tape of the traditional delivery methods, it allows us to be able to bring the key team members early, which we do a lot in the private world in order to enhance collaboration so we can get the thoughts and the process and the insight from the construction managers and their subcontractors to really kind of drive the way that we design and build the building.
25:57 – I would still advise people to take a look at it because for a small charge, the actual stipend check could be a lot bigger than what you think. Plus, it could also look for the way your mobility works around the campus. It’s not just parking. You could have ride share systems. You could have scooters. You could have motorized bikes to get you from one side of the campus to another.
