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P3 Development's business model was founded by John Thomas, an industry veteran with more than 30 years experience in high end construction and development. Mr. Thomas left his executive position with Turner Construction Company, to form his own development company, originally known as Regent Development. He structured this company to specifically address a need for private developers to partner with state and local government to deliver public facilities in a cost effective and timely manner.
For 30 years, John has delivered on this vision with an array of landmark buildings across the state. Thomas' public private partnership concept has enabled public agencies to enjoy some of the benefits of private sector development, including guaranteed design and construction costs, quality control and rapid delivery.
Through this business model, Regent and now P3 Development have become the leading innovators of the lease/leaseback delivery method for schools and other public facilities. Pioneering these methods has increased P3 Development's popularity among school districts and other public agencies. The company remains at the forefront of public private innovation by offering clients something traditional construction companies can't: multiple public and private financing options and a willingness to share the project risk through Guaranteed Maximum Price (GMP) contracts.
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