Public-private partnerships key to infrastructure overhaul

Since President-elect Donald Trump announced a $1 trillion infrastructure upgrade for the U.S., many have questioned how exactly that could happen. But leaders in New York City’s real estate industry are championing Trump’s talk of using public-private partnerships to make the plan a reality. At a panel at NYU Schack’s Capital Markets conference last week at the Pierre Hotel, Bill Rudin, CEO and vice chairman of Rudin Management, pointed at former Mayor Rudy Giuliani’s work in converting old buildings to residential, offering tax incentives, and doing infrastructure improvements in Lower Manhattan after 9/11 as a “roadmap” for Trump. “If the government does it’s thing, the private sector will come in and invest,” said Rudin. “You can’t go it alone.” He cited the Tappan Zee Bridge, La Guardia Airport, Brooklyn Navy Yard, Cornell Tech and Atlantic Yards as examples of projects that are happening because of the partnerships between the public and private sectors.

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