Located in the heart of the largest seaport complex in the United States, the cable-stayed replacement for the Gerald Desmond Bridge in Long Beach serves as both a vital conduit for the nation's trade and the region's commuters. The new six-lane, two-mile-long bridge opened to traffic on Oct. 5, 2020. The span carries 15% of all waterborne imports to the U.S.
Source: Credit to Port of Long Beach
Project Name |
Port of Long Beach - Gerald Desmond Bridge Replacement Project |
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Location |
Long Beach, California |
Project Sponsor / Borrower |
Board of Harbor Commissioners (Port of Long Beach) |
Program Areas |
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Value Capture Techniques |
Joint Development |
Mode |
Bridge, Intermodal / Freight, Port |
Description |
The Port of Long Beach, Gerald Desmond Bridge Replacement Project is a $1.56 billion replacement of an obsolete five-lane structure constructed in 1968 with a state-of-the-art, six-lane bridge. It is located at the southern end of State Route 710 in Los Angeles County. The bridge is a link between the two largest ports in the United States: the Port of Long Beach and the Port of Los Angeles. Construction on the new bridge began in 2013 and was completed in October 2020. The new bridge accommodates increased traffic, provides emergency lanes in both directions, improves safety, and reduces delays. The bridge is California's first two-tower, cable-style bridge for traffic at over 515 feet tall. The two-mile-long bridge accommodates Los Angeles commuters and taller and larger cargo vessels. The project received funding through Federal, State, and local governments, Port Funds, and a loan from the Transportation Infrastructure Finance and Innovation Act (TIFIA) through the U.S. Department of Transportation (USDOT). The Board of Harbor Commissioners of Port of Long Beach received a $500 million loan from TIFIA through the USDOT Build America Bureau. The Port is a landlord port that derives its revenues from long-term property and rental agreements conveying a right to use, rent, or lease port assets. The Port's operations will repay the TIFIA loan. In July 2012, the Port entered a design-build contract through a joint venture with the Shimmick Construction Company, Inc. The bridge is now open to commuters and will serve the largest port, with over $2.5 million jobs throughout the U.S. related to the Port of Long Beach. There are plans to add bicycle and pedestrian walkways to bring visitors a view of the Southern California coastline. The new bridge will offer the following benefits:
The Gerald Desmond Bridge Replacement Project is a joint effort of Caltrans and the Port of Long Beach, with funding contributions from the U.S. Department of Transportation and the Los Angeles County Metropolitan Transportation Authority. Caltrans will take over the responsibility for the operations and maintenance of the new bridge when completed. |
Cost |
$1,561,000,000 |
Funding Sources |
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Project Delivery / Contract Method |
Design-Build |
Private Partner |
N/A |
Project Advisors / Consultants |
Port of Long Beach, Board of Harbor commissioners:
USDOT Build America Bureau:
Public Sponsor:
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Lenders |
USDOT (Primary Revenue Pledge, Port Revenues) |
Duration / Status |
2013-2020 |
Financial Status/Financial Performance |
The Board of Harbor Commissioners of Port of Long Beach received a $500 million loan from TIFIA through the USDOT Build America Bureau. The Port of Long Beach is a landlord port that derives its revenues largely through the long-term property and rental agreements conveying a right to use, rent, or lease port assets. The TIFIA loan obtained through the USDOT Build America Bureau will be repaid through revenues generated by the Port's operations. Credit agreement Executed Mon, 05/04/2020 - 12:00 |
Innovations |
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Related Links / Articles |
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Contacts |
Lee Peterson |
