Northeastern University

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Student Housing P3 Advisory Services

CLIENT CHALLENGE
In January 2016, Northeastern University announced its plan to develop an 800-bed apartment-style residence hall for undergraduate students—a multi-use project that involved a public-private partnership with a private developer. Brailsford & Dunlavey was engaged by the university to provide on-call P3 advisory services for this innovative approach to project financing.

PROJECT HIGHLIGHTS
B&D’s role was to advise and support Northeastern on issues pertaining to the P3 operating agreement, and review the proposed program and feasibility study. The planning began with an operating session with the project committee and housing staff to discuss key issues and P3 trends in the context of the university’s strategic objectives. Issues included:

• Lease terms and policies
• Tenant / landlord issues
• University IT security
• Contractual services
• Code of conduct issues
• Residential life rules, regulations, and staffing
• Coordination among the multiple entities
• Issues with parents / public
• Dining requirements
• Financial aid packaging

B&D also reviewed the ground lease and assisted Northeastern with key terms and provisions.

The project was approved by the city of Boston and is scheduled to open in the fall of 2019. It addresses Northeastern’s commitment to its strategic housing master plan and to Boston’s 2030 Plan to reduce the number of students living off-campus by 50 percent.