|Project Sponsor / Borrower||
Texas Department of Transportation
Highway / Toll Highway
SH 288 is a 61-mile highway between Houston and the Gulf of Mexico providing a vital route for commuters, freight and commercial trucking, and hurricane evacuation. The highway's configuration has remained essentially unchanged since 1984. It extends from I-45 in downtown Houston to US 36 in Freeport, intersecting three major orbital roadways in the metropolitan region: I-610, Sam Houston Tollway (Beltway 8), and SH 6. SH 288 links the major employment center of downtown Houston and the Texas Medical Center with the rapidly growing residential communities of Harris County and Brazoria County.
The SH 288 Toll Lanes project is located within Harris County and involves the development, design, construction, financing, operation, and maintenance of four new toll lanes that extend 10.3 miles along the median of SH 288, as well as the maintenance of the existing general purpose lanes along the SH 288 corridor. The project also includes the reconstruction of 75 percent of the I-610 interchange, the addition of direct connector ramps at Beltway 8, and 1.3-mile direct connector ramps to the Texas Medical Center (TMC Connector).
The project will provide onward links to an extension of the SH 288 managed lanes in Brazoria County:
Total Cost - $1,063.6 million (YOE)
|Project Delivery / Contract Method||
Design-build-finance-operate-maintain Toll Concession (52 years)
Blueridge Transportation Group, LLC (concession company)
Almeda-Genoa Constructors (design-build joint venture)
|Project Advisors / Consultants||
Lead engineering firm - Stantec
To Blueridge Transportation Group, LLC
To USDOT TIFIA JPO
Bondholders, USDOT TIFIA
|Duration / Status||
Commercial close March 7, 2016.
Financial close May 9, 2016.
Construction is anticipated to begin in the fourth quarter of 2016 and is projected to be complete by the second quarter of 2019.
|TIFIA Credit Assistance||
Direct Loan - $357.0 millionTIFIA will be repaid with toll revenues.
|Financial Status / Financial Performance||
The TIFIA credit agreement was signed in April 2016.
|Related Links / Articles||Blueridge Transportation Group Proposal Executive Summary|