The Norwood-University of Southern California Professional Practice School (PPS) project began in 1990-1991. Norwood is an inner-city elementary school in Los Angeles with a student population that is 99 percent Hispanic. Initial efforts to achieve a major project goal--to promote professionalization of teachers--focused on building collegial relationships between school and university participants. The foundation of the PPS was a restructuring effort focusing on curriculum and instructional improvement. Creating a professional practice school requires a new kind of collaboration between school- and university-based participants. This collaboration has been affected by the diverse perspectives held by participants on a number of issues. In this paper, issues and perspectives associated with three major emphases of the school's restructuring efforts--the study of teaching, teacher decision making, teacher professionalism--are addressed. Perspectives on additional issues and activities are also related and discussed: a problem-solving clinic for student teachers, teacher empowerment, teacher assessment, student assessment, cooperating teacher recruitment, time, and the effect of the PPS on practices in the school and in the university's preservice education program. (Contains 40 references.) (IAH)