Mike Berry

The Urban Land Institute’s recent report, “Infrastructure 2011: A Strategic Priority,” highlighted the Dallas-Fort Worth region as a national leader in public-private partnerships and gave a nod to the high-profile transportation construction projects that are transforming the area. But the report also contained a warning: Without long-term, sustainable funding measures, critically needed infrastructure improvements will stall, hurting our ability to compete globally in the near future.

Last month, ULI’s North Texas chapter hosted Maureen McAvey, executive vice president of the initiatives group of the ULI, to discuss the report. Russell Laughlin, senior vice president of Hillwood Properties joined the group of panelists, which also included Joseph Aiello, CEO and Partner of Meridiam Infrastructure North America, and Ron Natinsky, chair of the North Central Texas Council of Governments’ Regional Transportation Council.

What I took away from this presentation was that now, more than ever, we have to find a stable solution that will continually fund our transportation infrastructure. It’s the backbone to our economy and our society. Without it, we can’t stand up tall to compete with the rest of the world. And we must compete globally if we want to continue creating jobs for people.

Fortunately, the work of the 82nd Texas Legislature put funding measures in place that will allow several important North Texas transportation projects to move forward, at least for now. However, during the session, the 2030 Committee of the Texas Transportation Commission also revealed that years of neglect and inadequate funding are quickly putting the state in a position where it will be unable to afford any new roads or badly needed improvements to existing roads. You can read the entire report here.

The problem arises because of two issues. On one hand, many Texas roads and bridges are decades old, and with age comes deterioration and the need for major repairs. On the other hand, we have a booming population and the nation’s healthiest job growth, which creates the need for additional capacity.

Our traditional way of funding transportation can’t address both needs, especially as the cost of maintaining and building roads continues to rise. Public-private partnerships are offering a much-needed extra hand, adding new tolled and free lanes in a few of our most congested corridors—but even with this innovative financing it can take years to get a project off the ground.

It’s still a tough road ahead for transportation funding. Public-private partnerships can help, but we must find a way to accelerate the pre-development cycle even for these non-traditional funding mechanisms. And we can’t rely solely on public-private partnerships to solve all of our infrastructure funding needs.

North Texas has a bright future in terms of its economic potential, which bodes well for our shared prosperity. However, we will compromise our potential for future success if we continue to neglect the transportation funding crisis. I urge other business leaders and citizens to join me in calling for long-term solutions at both the state and federal level.

Serving as president of Hillwood Properties, Mike Berry leads development efforts the 17,000-acre AllianceTexas development north of Fort Worth.