P3 Builder Offers New Channel Of Communication For Development Community

Welcome back to The Sunstone Way. 

I am excited to announce the launch of a new online publication, the P3 Builder. 

This monthly effort will provide you with in-depth looks at the world of Public-Private Partnerships, particularly in regard to infrastructure construction. It will feature the experts in the field from both the government and the private sector sides. 

In-Depth Study 

For example, a P3 Strategy Series presentation last month on the Sunstone Presentation stage featured former Long Beach City Manager Pat West and Jeff Fullerton, a P3 expert who was the project director for Plenary Edgemoor and the architect of a P3 partnership to finance and build the new Long Beach Civic Center. 

West and Fullerton shared their perspectives on the things that went well during the multi-year project and the places where there were snags in the process. The audience of more than 50 people came away with a better grasp of how the P3 approach can be used to get projects done when there appears to be no other way to make them happen. 

I was working for the city of Long Beach during the construction of the new Civic Center – 2016-2019. I was only involved on the periphery of the project, but was very impressed with the innovative approach. 

Expertise In All Phases 

There are several components of public-private partnerships, and we will cover them all in P3 Builder. The most integrated projects employ a DBFOM framework – Design, Build, Finance, Operate, Maintain – with the private sector taking the lead. 

Then there are the government projects that involve loan guarantees, research grants and performance contracts. These also require expert guidance to get the most out of the government’s help. 

Capital can also flow the other way – private investment in a project supported by the government, as was the case with the Long Beach Civic Center. 

P3 Builder will touch on all these efforts. 

Your Chance To Hear 

The inaugural edition of P3 Builder starts out with that story. It was a $520 million project, and more than worth studying. 

As you know, I have embraced the concept of P3 as the key to unlocking incredible power to get projects done. I have always believed that government can jumpstart economic development, job creation and more by partnering with the private sector. 

Jeff Fullerton is more than a believer – he has proven that the approach works. He has been part of $6 billion worth of public-private partnerships and now is principal of his own consulting company, Fullerton Partners LLC. 

Jeff and I have created another company, P3 Partners LLC, designed to work directly with Sunstone Cities to bring these types of dream into reality. The P3 Builder newsletter will provide information about P3 Partners LLC too. 

With You In Mind 

P3 Builder is starting with an in-depth story, brief news items and a calendar of upcoming events related to the P3 community. I’d like to encourage you to send in your news items and events to be included in the next newsletter. Just email Harry Saltzgaver, the managing editor, at harry.saltzgaver@sunstoneinvestment.com. 

I’d also like to hear if you have ideas for other types of content in the newsletter. Would a question-and-answer section be helpful? How about interviews with government officials? 

We believe in P3 innovation, and it makes sense to share information. That’s how we create the partnerships that make our dreams, your dreams, come true. 

There soon will be a link to get P3 Builder directly in your email box. In the meantime, you can find on the Sunstone Cities website, here. 

And that’s the Sunstone Way, without a doubt. 

Remember, always be a Sunstone!