QIC Global Infrastructure has won a 50-year concession from Northeastern University, a US private tertiary institution in Massachusetts, to manage both its parking system and technology-related developments in future mobility services.
QIC and Northeastern have formed a new company, MasParc and Mobility, to oversee all aspects of the parking system at the university in Boston.
Tom Nedell, the chief financial officer of Northeastern University, described QIC as 鈥漚n ideal partner鈥� because of its collaborative approach and expertise in managing infrastructure at institutions of higher learning.
鈥淭his partnership ensures an effective, flexible transportation system that addresses the needs of our campus and is highly responsive to our commuters while directing meaningful resources to our core education mission,鈥� he said.
Trent Carmichael, partner, QIC鈥檚 Global Infrastructure, told 91传媒在线 that the university had monetised revenue rights from its parking system and that QIC had paid an 鈥渁mount which we believe is reflective of market value鈥�.
He explained that by monetising non-core assets, the university had the dual benefit of having funds to deploy to teaching and learning programmes and an investor with a dedicated focus to optimise the use of the asset.
The parking facility with 3,100 spaces services the university鈥檚 enrolment of 26,000 students and staff.
Carmichael said QIC had also negotiated rights to provide future mobility-as-a-service products based on commuters鈥� travel service needs.
鈥淲e think there is a spectrum of opportunities to make sure the parking system evolves with new technology and demand trends,鈥� he said.
One of these trends would be autonomous vehicles, which would need somewhere to drop off, pick up and provide parking assets for passengers in a land-constrained urban environment.
鈥淲hen we talk about mobility-as-a-service we look at giving commuters a choice of journeys,鈥� Carmichael said.
鈥淲ith a strategic asset like this, we can combine broader mobility with other services, such as links to last-mile solutions,鈥� he said.
The latest investment is part of QIC鈥檚 plan to expand its infrastructure platform in the US. In 2012, QIC bought the parking concession at Ohio State University, forming CampusParc with the university under a 50-year concession.
