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Project Profiles

I-485 Charlotte Outer Loop
Location Charlotte, North Carolina
Project Borrower / Sponsor North Carolina Department of Transportation (NCDOT)
Program Areas Project FinanceP3
Mode Highway
Description

This project involves the construction of a new 5.1-mile, eight-lane section of interstate from west of NC 115 (Old Statesville Rd.) to west of I-85 north of Charlotte. This is the last segment of the I-485 Outer Belt around Charlotte and will connect I-77 to I-85.

Related but separate projects in the completion of the I-485 Outer Loop include the widening of six miles of I-85 from four to eight lanes and the upgrade of the interchange between I-485 and I-85.

Cost $139.5 million
Funding Sources GARVEE bonds, State Transportation Trust Fund disbursements, contractor financing to be repaid by future General Assembly appropriations based on an availability payment schedule conveyed in the contract.
Project Delivery/Contract Method DBF (design-build-finance)
Private Partner Blythe Construction Inc./Wilbur Smith Associates (now CDM Smith)
Project Advisors/Consultants Not available
Lenders None
Duration/Status

Construction began summer 2011

Expected construction completion December 2014

Financial Status Under this DBF contract, the design-builder is completing construction over 4.5 years and has agreed to an “extended payment schedule” of 5.5 years.
Innovations North Carolina’s first DBF project estimated to accelerate project delivery by five years.
Related Links/Articles

NCDOT Project Website

Construction Contract Award News Release

Contacts Jen Thompson
NCDOT Division 10
2327 Tipton Drive
Charlotte, NC 28206
(704) 347-6618