P3s, Infrastructure & Project Finance
The United States is expected to require new infrastructure development at a cost of $3.3 trillion over the next ten years, but the rate of state and local government spending on infrastructure is at its lowest point since 1950. This trend has led to a demand for innovative financing solutions and participation from both the public and private sectors.
Led by its preeminent real estate practice, Winstead has emerged as a leader in infrastructure development and financing. Winstead represents public agencies, private developers and underwriters in major infrastructure development projects both in Texas and across the country.
P3s and Project Finance
Winstead's multidisciplinary project finance group has grown to encompass every aspect of the planning, financing and development of public-private partnerships (P3s) at a level of sophistication not typically found in other Texas firms with procurement or public finance experience. Our infrastructure attorneys possess a thorough understanding of the unique construction, procurement, financing, and tax matters that arise in P3 transactions, particularly in the context of Texas law. Winstead works closely with its clients to weigh the risks and benefits of the transaction, maximizing both public and private resources to achieve the most efficient outcome and optimize community impact. We have represented all parties at the negotiating table, including governmental entities, developers, lenders, and investment banks. This background gives us the ability to understand the needs and motivations of all parties involved.
Innovation and creativity are important values at Winstead. There is no "off-the-shelf" structure for any P3 project. Winstead's attorneys have the experience necessary to advise clients on any project structure, regardless of the financing or delivery method. Winstead understands the importance of prioritizing deliverables and minimizing risks to drive competition in private markets, without compromising private sector innovation. Our experience comes from a broad array of both taxable and tax-exempt projects, including the following:
- Airports and Airport Facilities
- Tollroad Facilities
- Municipal Convention Centers and Hotels
- On-Campus University Facilities and Student Housing
- Stadiums and Professional Sports Facilities
- Industrial Development Projects
- Water Infrastructure and Utilities
- Municipal Facilities
- Economic Redevelopment Projects
- Privatized Toll Roads
- GSA Build to Suit Lease Facilities
- Privatized Military Housing
Winstead’s Real Estate Practice Group serves as a leading resource for both national and regional companies. With more than 80 real estate attorneys across seven offices, Winstead’s experience spans the full spectrum of real estate services. The breadth of our real estate experience allows Winstead to assist clients in every phase of the project, including financing, acquisition, development, management and disposition.
Procurement, Construction and Delivery
Procurement and delivery method selection provides the foundation for every infrastructure project. We work closely with our clients to craft delivery method solutions that achieve their long-term operating and maintenance goals, while minimizing construction risk to both the owner and the investor.
Corporate and Government Relations
Winstead’s corporate attorneys counsel clients on a range of corporate and governmental matters in the planning and financing of infrastructure development projects, including privatized toll roads, professional sports facilities, and large-scale web server facilities, to name a few. Winstead has helped clients secure both local and state-level economic incentives to achieve significant cost savings for new infrastructure projects across Texas.