Engineering Inc. - May/June 2019 - 11

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Commercial &
Residential Real Estate
Commercial &
Residential Real Estate

Tampa Surges to a 'Top 10' Market
When ACEC's Coalition leaders visited Tampa, Florida, this past winter for
meetings and roundtable discussions, local leaders were excited to discuss the
city's commercial and residential real estate market and growth.
According to the PwC/Urban Land Institute's "Emerging Trends in
Real Estate 2019" report, Tampa broke into the top 10 for the first time.
According to the report, Tampa ascended more dramatically than any other
city-as it ranked 35th in 2007.
Understanding the reasons behind Tampa's rise as an emerging market
is important for engineering firms who may want to drive comparable
momentum in cities where they have an established presence. Engineering
firms also can use Tampa's growth as a baseline to help other cities identify
specific areas of future growth.
The key elements to Tampa's success include:
* Affordability, which is critical to luring new residents from states with
higher taxes and home prices.
* Reconstructing Tampa International Airport, now considered the best
in the region.
* Strong political leadership from Tampa's growth-minded mayor, Bob
Buckhorn.
* Successfully retaining young professionals, which helps create a more
vibrant community and economy.
* Ensuring public support for infrastructure. Residents recently voted
for a referendum that adds a 1-cent sales tax to fund regional
transportation projects.
* Revitalizing waterfront areas in Tampa and St. Petersburg, resulting in
the development of dynamic, mixed-use projects.

Intermodal &
Logistics

Intermodal & Logistics

Energy & Utilities

Energy &
Utilities

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Health Care &
Science+Technology
Health Care &
Science+Technology

Economic
Outlook

Annual Economic Outlook

Public-Private

Public-Private
Partnerships (P3s)
Partnerships (P3s)

The Private Side is a
regular department of
Engineering Inc., focusing
on the private-sector markets
listed above, and information
and insights on public-private
partnerships and economic
data relevant to the industry.
For more on these topics,
subscribe to ACEC's bimonthly
Private Industry Briefs:
https://programs.acec.org/
industrybrief/.

Erin McLaughlin is ACEC's senior
director of private market resources.
She can be reached at emclaughlin@
acec.org.

P3s Demonstrate Revenue Stream Diversity
The use of public-private partnership (P3) contracts for developing infrastructure is continuing at a steady
pace in the U.S. Overall trends include P3s being used for large projects-those with total costs in excess
of $125 million-as well as an increasing variety of project types beyond transportation, including social
infrastructure, broadband projects and water and wastewater facilities. Social infrastructure is defined by building
projects, including health care, education, housing and civic facilities.
The Husch Blackwell "Public-Private Partnership Report," published in March 2019, details 13 major P3
projects that financially closed in 2017-2018. Of the 13 projects, three are airports, four are roadways, one
is transit and the remaining five are social infrastructure.
2017-2018 U.S. P3 FINANCIAL CLOSINGS:
1. Los Angeles International Airport automated people mover
2. Los Angeles International Airport ConRac
3. Denver Airport (Jeppesen Terminal)
4. Colorado's Interstate 70
5. Purdue University student housing
6. Lansing Correctional Facility, Kansas
7. Howard County, Maryland Courthouse

8. Massachusetts Bay Transit Authority Automated

Fare Collection System

9. Michigan's Interstate 75
10. Wayne State University student residences
11. Texas Woman's University student housing
12. Virginia's Interstate 395
13. Virginia's "Transform 66"
MAY / JUNE 2019

ENGINEERING INC.

https://programs.acec.org/industrybrief/

Engineering Inc. - May/June 2019

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