EXCLUSIVE — Harrison Street inks P3 agreement with Illinois Tech

Harrison Street has entered into an agreement with the Illinois Institute of Technology to operate, manage and redevelop the university’s on-campus utility system, strengthening its public-private partnership (P3) infrastructure strategy.

The investment is structured as a 40-year P3 and will provide Illinois Tech with a capital solution for deferred maintenance costs, operations and maintenance services, energy conservation measures, and cost savings efforts.

The university’s utility plant provides chilled water and steam production and distribution, as well as electricity production to the campus. Under the P3 agreement, Harrison Street is planning to install a new, highly efficient trigeneration system to reduce costs and carbon emissions.

“This agreement is consistent with Harrison Street’s strategy to invest in mission-critical social infrastructure and to deliver a comprehensive capital and maintenance solution with world-class operators to support