Purdue University Griffin North and Meredith South Student Housing Facilities
West Lafayette, Indiana
Purdue University utilized a public private partnership for the project to partner with the private sector to minimize life-cycle costs, optimize the capital funding plan and transfer design, construction, financing and long-term operations and maintenance risk and responsibility. Gilbane provided design-build services to developer Plenary for the two new student housing facilities - Griffin North and Meredith South for Purdue University. Leveraging private sector innovation in the design, construction and project management supported timing efficiencies in the project delivery, essential to opening the facilities by the occupancy date. In addition, the P3 structure, whereby Purdue retained demand and revenue risk, resulting in a lower cost of capital and more expedient procurement and negotiation process relative to a revenue risk structure.
Why P3?
- Financial certainty
- Speed to market
- Risk transfer
- Long-term maintenance
- Lease-back agreement
Design Builder: Gilbane Building Company
Architect: MSKTD & Associates and Mackey Mitchell Architects
Project Size: Griffin Hall North: 148,302 SF; 570 Beds
Meredith South: 201,815 SF; 730 Beds
Completion Date: July 2020
Sustainability: LEED® V4 Certified