- Briefing Room
Houston Metropolitan Region, Texas
|Project Sponsor / Borrower||
Texas Department of Transportation
Grand Parkway, SH 99 D-G is a 53-mile segment of the planned 180-mile circumferential Grand Parkway toll highway around the Greater Houston Metropolitan Region. The Grand Parkway is divided into 11 segments in all (A through I-2), to be constructed at different times as deemed necessary.
This project includes five segments situated along the northwest portion of the parkway alignment from just south of I-10 to I-69/US 59N (Eastex Freeway):
The Parkway segments provide two lanes in each direction with intermittent frontage roads.
TIFIA loan - $840.645 million
|Project Delivery / Contract Method||
Segments D-E Design-builders - Williams Brothers Construction, Webber, Hassell Construction, J.D. Abrams, and Lone Star Road Construction
Segments F-G Design-builder - Zachry-Odebrecht Parkway Builders (Joint venture of Zachry Construction Corporation and Odebrecht USA)
|Project Advisors / Consultants||
Estrada Hinojosa & Co., Inc. - Financial Advisor
Goldman Sachs - Underwriter for the Revenue Bonds
Mayer Brown - Counsel to the Borrower
To USDOT TIFIA JPO
Bondholders, USDOT TIFIA
|Duration / Status||
Segment D construction is complete.
Segment E opened to traffic in December 2013 and began tolling on February 1, 2014.
TxDOT awarded Segments F-G to Zachry-Odebrecht Parkway Builders in September 2012. Construction began July 2013.
Segments F-1 and F-2 were completed and began tolling in February 2016.
Segment G was completed and began tolling in March 2016.
|TIFIA Credit Assistance||
Direct Loan - $840.645 million
TIFIA will be repaid with toll revenues from the Grand Parkway System
TIFIA credit agreement was executed on February 6, 2014.
Financial close occurred on February 6, 2014.
TxDOT issued $2.9 billion in Grand Parkway System Toll Revenue Bonds in July 2013. Approximately half will go to funding the construction of Segments F-G of the parkway.
|Related Links / Articles||Grand Parkway Transportation Corporation|