Related Links: U.K. Takes a Hard Look at Private Finance Initiative Private Funding Finds a Way into Other Public Spaces P3 Special Report: U.S., Canada, U.K. Push New Finance Approaches In the mid-1990s, two highway projects oneither side of the country helped to create a paradigm shift in the way U.S. infrastructure improvements would be financed. Dulles Greenway in northern Virginia and state Route 91 Express Lanes in Los Angeles were designed and built almost entirely with private funds, giving rise to what would become public-private partnerships, or P3s.Enthusiasm and skepticism greeted both projects. While some saw the nascent P3s
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.