ANNAPOLIS, Md., Oct. 15, 2018 /PRNewswire/ -- The Concourse Group LLC (Concourse) has been engaged by the Maryland Department of Transportation (MDOT) to provide advisory services for Public Private Partnerships (P3), Transit Oriented Development (TOD), and Real Estate projects within the State, under a 3-year contract.
Concourse specializes in implementing innovative financing and delivery mechanisms for vital infrastructure projects, and utilizing P3s to leverage the expertise and efficiencies of the private sector and mitigate risk for the State when undertaking large transportation infrastructure projects. The P3 statute under Maryland law authorizes MDOT to pursue potential P3s to establish a predictable, streamlined, and transparent process for innovative project delivery; permit a more collaborative, multi‐phase solicitation process; and balance the risks and revenue sharing between the public and private sector.
MDOT enters into Transit-Oriented Development (TOD) agreements to create new, and improve existing, compact, walkable, pedestrian-oriented, mixed-use communities centered around high-quality transportation systems. TOD's often involve complicated infrastructure requirements, utilization of publicly-owned real property, and complex issues requiring multifaceted real estate and financial analyses.
Concourse has been engaged by the MDOT to provide a wide range of advisory services including financial analysis, market analysis, negotiation assistance, and assistance with real estate-related policy development and oversight. The real estate assistance includes supporting the acquisition, disposition, leasing, and development of real property.
Tom Shea, partner at Concourse said, "Since 2001 we have provided P3, real estate, and development consulting support nationally – in 42 states, with projects valued at over $14 Billion. With our headquarters in Annapolis, Maryland, we are thrilled to now be a key consultant for MD DOT in our own back yard."
About The Concourse Group The Concourse Group, with offices in Maryland, Washington DC, Colorado, and California, was founded in 2001. We are an accomplished consulting firm committed to improving its client's real estate, energy, utility, and operational infrastructure. Our clients are federal, state, and local governments; universities and colleges; and housing authorities who are driven, in the face of budget constraints, to recapitalize their assets, effectively manage their resources, and in many cases implement Public Private Partnership (P3) programs.