|Location||Charlotte, North Carolina|
|Project Borrower/Sponsor||North Carolina Department of Transportation (NCDOT)|
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.
|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|
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.|
NCDOT Division 10
2327 Tipton Drive
Charlotte, NC 28206