News & Insights
Photo courtesy of: Greg Land
FOR IMMEDIATE RELEASE
Contact: Doug Kotlove
Vice President, Business Development and Marketing
dkotlove@bdconnect.com
Washington, D.C., November 3, 2025—Brailsford & Dunlavey (B&D) today announced the release of its 2025 State of the Industry Reports for both higher education mixed-use developments, as well as energy public-private partnerships (P3s). The new reports—marking the firm’s seventh annual analysis of the mixed-use P3 market, and the second annual report focused on energy partnerships on campus—provide data-driven insights into how colleges and universities are using partnerships to deliver critical infrastructure, achieve fiscal resilience, and advance decarbonization goals.
The 2025 Higher Education P3 State of the Industry Report finds that 18 higher-ed mixed-use P3 deals, primarily housing-anchored, reached financial close in 2024, up from 14 the previous year, which is a nearly 30% increase. The average deal size rose to $134 million, with projects averaging over 800 beds, signaling strong demand for large-scale, mission-aligned developments.
Half of these projects occurred in the Southeast, underscoring regional momentum, while 67% of all transactions used tax-exempt financing structures, reflecting institutions’ focus on balancing affordability with delivery speed.
The report highlights how both large public universities and smaller private colleges are leveraging P3s not just to expand housing, but to strengthen institutional agility amid rising costs, shifting demographics, and federal uncertainty.
“P3s have become a core delivery mechanism for higher education—tools for speed, cost control, and alignment with institutional mission,” the report concludes.
In the energy sector, B&D’s second annual Energy P3 State of the Industry Report documents the market’s evolution from pilot projects to scaled implementation. Six major transactions reached financial close in 2024, the highest annual total since the pandemic, with an average deal size of $134 million.
The report finds that hybrid models—blending 501(c)(3) financings, Energy-as-a-Service agreements, and renewable energy procurements—are defining the next wave of campus modernization. Universities are integrating energy infrastructure with housing, research, and digital systems, transforming campus utilities into platforms for resilience, data innovation, and decarbonization.
“Energy partnerships are no longer experiments,” said Jeffrey Turner, President of Brailsford & Dunlavey. “They are essential tools for achieving fiscal and environmental results.”
As colleges and universities face tightening budgets, deferred maintenance, and climate imperatives, P3s are proving indispensable. The reports highlight that the most successful institutions treat partnerships not as transactions, but as long-term strategies for resilience, modernization, and mission alignment.
Together, B&D’s State of the Industry reports offer a comprehensive view of how higher education is reinventing its physical and financial foundation—through innovation, collaboration, and purposeful investment. They capture a sector in motion: one that is learning, adapting, and scaling P3 models to meet urgent needs for modernization and affordability.
To access the full reports, go to the P3 Resource Center. The reports also will be released at this week’s P3 EDU conference at Georgia Tech. Turner will be discussing the higher education report during his conference panels, “Strategic Real Estate Solutions” and “Student Housing P3s.” David Karlsgodt, B&D’s Energy and Sustainability Vice President, will also discuss the energy report during his panel, “Campus Energy and Sustainability Solutions.”
In the November episode of the Campus Energy & Sustainability Podcast, host Dave Karlsgodt, will sit down with Jessica Wood (S&P Global) and Katie Lutton (B&D) to unpack the report’s findings and discuss how shifting policies, market dynamics, and financing mechanisms are influencing the path towards decarbonization and a sustainable future. The episode drops on November 18th – subscribe here and be the first to know when it drops.
About Brailsford & Dunlavey
Founded in 1993, B&D is a leader in implementing creative solutions for higher education clients to maximize the value of their buildings, operations, and resources. The firm is at the forefront of higher education P3 advising—shaping the customized deal structures of today. B&D is listed among Engineering News-Record’s “Top 25 Program Management Firms” and has been a finalist for the P3 Bulletin’s Technical and Strategic Advisor of the Year award in 2017, 2018, 2019, 2023, 2024, and 2025. For more information about B&D, go to bdconnect.com. For the latest in P3 deals, go to p3reasourcecenter.com.
