Endowed funds and financial close announced for Schools PPP project in Maryland

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Prince George's County Public Schools (PGCPS) and the Prince George’s County Education & Community Partners (PGCECP) in Maryland, USA announced the creation of a US$ 1 million endowed fund to support students and educators, along with student internships, mentoring opportunities, and apprenticeships valued at US$ 4.7 million, as part of the school system’s Alternative Construction Finance Program.

This announcement follows commercial and financial close for the project. Formally known as the Blueprint Schools, the agreement between Prince George’s County Public Schools and PGCECP – a consortium of Fengate Asset Management, Gilbane Development Company, Gilbane Building Company, Stantec, and Honeywell – was finalized in mid-December, 2020. 

The project will build six new schools by July 2023, an innovative approach to address aging schools. Through the initiative, PGCECP will build, design, and maintain new Drew-Freeman, Hyattsville, Kenmoor, and Walker Mill middle schools, as well as a new middle school and K-8 school in the Adelphi and southern areas of the county, supporting approximately 8,000 students. 

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