C. Tolar, M. Boyd, Douglas B. Cargo
Nov 14, 2012
Journal name not available for this finding
In September of 2009, one of the most rigorous, comprehensive, and complex transportation projects ever to be undertaken in the United States was initiated. Dubbed the LBJ Express, this project is estimated to be over $3.2B in value, with over $2.1B in construction cost alone. Approximately 17 miles in total project length, depicted as Figure 1, the project includes reconstruction of over 10.7 miles of Interstate Highway 635 (known as the Lyndon B. Johnson or LBJ Freeway), as well as over 5.8 miles of elevated bridges and new frontage roads along Interstate Highway 35E. The project includes 13 total miles of new managed toll lanes, on which drivers may pay a dynamic, market-based toll through particular segments of the corridor, with the price changing based on real-time traffic load, but guaranteeing the driver a travel speed of 50 mph. This Public-Private-Partnership (PPP) was implemented through a Comprehensive Development Agreement (CDA), through which the LBJ Infrastructure Group (LBJIG) will design, build, and maintain the roadway for a period of 52 years. The LBJIG partnership is comprised of Cintra US, Meridiam Infrastructure (investor in PPPs and developer of public facilities), the City of Dallas Police and Fire Pension System (investor in the project), and Trinity Infrastructure, LLC (Trinity) which is tasked with the design and construction of the project over a five year period). Other stakeholders include the Texas Department of Transportation, the Texas Transportation Commission, the Federal Highway Authority, the City of Dallas, the City of Farmers Branch, and last but certainly not least, the Public, the biggest stakeholder. The project is on schedule and projected to be substantially complete by the spring of 2016.