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Project Profile: Gilcrease Expressway West

Gilcrease Expressway West

photo credit: Oklahoma Turnpike Authority

Location

Tulsa, Oklahoma

Project Sponsor / Borrower

Oklahoma Turnpike Authority

Program Areas

Alternative Project DeliveryProject FinanceTolling and Pricing

Mode

Toll Highway

Description

The Gilcrease Expressway West is a future five-mile, four-lane toll highway extending north from the junction of I-44 and I-244 in West Tulsa to US 412 in Tulsa. The expressway will complete a western loop around the Tulsa metro area and will feature bridges, including two (one for each direction of traffic) over the Arkansas River, as well as interchanges with W 51st, W 41st and W 21st Streets in East Tulsa and with US 412 in Tulsa. The project also includes a parallel 10-foot-wide, multi-use trail between W 51st Street and Katy Trail, just south of US 412. The project is intended to relieve congestion during peak periods and provide a new and more direct route to attractions in central Tulsa. The project is part of the Oklahoma Turnpike Authority's Driving Forward program, which involves major turnpike expansions in six corridors.

The original plans for the orbital Gilcrease Expressway date from the 1950s. While the Gilcrease Expressway will be built and maintained to Oklahoma Turnpike Authority standards, the project will not be part of the Authority's statewide network of toll roads because it is being funded by several different entities.

Cost

Estimated $330-340 million

Funding Sources

Public Funds

  • GARVEE Bonds - $61,505,000
  • State Funding (Oklahoma Turnpike Authority, Oklahoma Department of Transportation) - To be determined
  • Local Funding (City of Tulsa, Tulsa County, Indian Nations Council of Governments) - To be determined

Private Funds

  • Anticipated private partner interim financing - $100,000,000
Project Delivery / Contract Method

Build-finance

The preliminary Build-finance structure is subject to the Technical and Financial Requirements included in the Request for Proposals. A separate consultant team is producing a 100% design.

Private Partner

Not yet selected

Project Advisors / Consultants

To Oklahoma Turnpike Authority

  • Poe & Associates - Program Manager
  • CDM Smith - Traffic and Revenue
  • Garver - Technical Advisers
  • Olsson Associates - Technical Advisers
  • Hilltop Securities - Financial Advisers
  • EGL Law - General Counsel
Lenders

To be determined

Duration / Status

Request for Qualifications issued June 22, 2018

Four Qualifications submittals received August 22, 2018

Three proponents shortlisted September 25, 2018

Financial Status

The Oklahoma Turnpike Authority is interested in pursuing a TIFIA loan that would be used to take out short-term financing provided by a private sector development partner.

Innovations
  • Innovative Build-Finance procurement where a private sector proposer may be asked to provide up to $100 million in short-term financing that may be replaced by a TIFIA loan.
Related Links / Articles

Oklahoma Turnpike Authority Project Website
"Gilcrease Expressway extension cost, toll rate to be higher than initially expected" (Tulsa World, June 28, 2018)
Oklahoma Turnpike Authority Public Meeting Project Presentation

Contacts

Gene Wyckoff, PMP, PE
Driving Forward Program Manager
Tel: (405) 949-1962 x271
gene.wyckoff@poeandassociates.com

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