Partnerships and creative financing structures are helping colleges and universities to mitigate budget challenges associated with state funding and construction projects. These philanthropic and corporate partnerships help cover the cost of construction.

One example is Toyota USA Foundation’s $4 million grant to CSU Dominguez Hills to support the design, construction and equipment for the Toyota Center for Innovation in STEM Education, which C.W. Driver Companies completed in 2019. Additionally, developers have been looking to public-private partnerships (P3) to move projects through with tax-exempt bond financing.

“P3 can not only result in positive financial returns, but also be useful for deferred maintenance and additional academic buildings,” said Dave Pintar, director of project development, C.W. Driver Companies.

This delivery method is being utilized on multiple college campuses including UC Riverside, UC San Diego, Cal Poly Pomona, Orange Coast College and others.