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B&D releases 9th annual housing anchored, 3rd annual energy, P3 state of the industry reports

New reports track a wider housing P3 market and a rebuilding campus energy pipeline

WASHINGTON, D.C., Tuesday, Nov. 3, 2026 — Brailsford & Dunlavey (B&D) today released its 2026 Higher Education P3 State of the Industry reports: the 9th annual report on housing-anchored and mixed-use public-private partnerships (P3s), and the 3rd annual report on campus energy P3s. Both full reports can be downloaded free at p3resourcecenter.com. 

Highlights from the student housing report: 

• 23 deals reached financial close in 2025, the strongest showing since 2019. 

• Average deal size rose to about $173 million, up from $130 million in 2024. 

• The 2025 deals came from the broadest range of institution types in the report’s history.  

“The P3 model has become a tool that fits more situations than it once did,” said report co-author Jeff Turner, B&D President, Higher Education. “It’s now used by institutions that have gotten better at knowing when to reach for it.” 

Turner will discuss the findings this week as moderator of “Public-Private Partnerships for Campus Development” at P3•EDU in Atlanta (Tuesday, Nov. 3, 9:30 a.m. ET) and the opening plenary, “State of the Market,” at the P3 Higher Education Summit in San Diego (Thursday, Nov. 5, 8:45 a.m. PT). 

Highlights from the energy report: 

• No qualifying campus energy P3 reached financial close in 2025, the first such year since 2017. 

• Nonprofit 501(c)(3) structures have narrowed the financing premium over university borrowing in certain cases. 

“The pipeline is rebuilding and financing structures have improved,” said report co-author Dave Karlsgodt, B&D Vice President for Infrastructure, Energy & Sustainability. “This is a good time to take a fresh look at what partnership delivery can offer.” 

Karlsgodt will discuss the findings this week as moderator of “Institutional Energy Solutions” at P3•EDU in Atlanta (Tuesday, Nov. 3, 4:45 p.m. ET). 

Read the full findings, case studies and outlook for both reports at p3resourcecenter.com. 

About Brailsford & Dunlavey 

Founded in 1993, Brailsford & Dunlavey (B&D) is a national planning, development and program-management advisory firm. In December 2025, B&D merged with Project Management Advisors (PMA), creating a combined firm of more than 400 professionals with offices in major U.S. markets. Together, the firms serve higher education, healthcare, life sciences, technology, K-12 schools, civic and municipal projects, sports venues, hospitality, residential, and energy infrastructure. B&D has partnered with more than 600 colleges and universities and publishes its P3 research at p3resourcecenter.com. 

FOR MORE INFORMATION 

Karmela Lejarde, Vice President, Marketing klejarde@bdconnect.com