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Project Profile: US 183 South / Bergstrom Expressway

US 183 South / Bergstrom Expressway

photo credit: Central Texas Mobility Authority

Location

Austin, Texas

Project Sponsor / Borrower

Central Texas Regional Mobility Authority (CTRMA)

Program Areas

Alternative Project DeliveryTolling and PricingTIFIA

Mode

Highway / Express Toll Lanes

Description

The US 183 South / Bergstrom Expressway project will be an 8-mile highway and express toll facility in Austin, Texas, connecting US 290 and SH 71. The project will expand the capacity of existing US 183, a north-south arterial serving more than 60,000 vehicles per day as an alternative to the heavily congested I-35 to the west. US 183 provides a route for commuters from several cities to Downtown Austin and is one of three highways providing access to Austin-Bergstrom International Airport. In its current configuration, with numerous at-grade intersections, US 183's mobility and operational benefits are limited and could be maximized by a more complete roadway network.

The project consists of six tolled main lanes in the median of US 183, four to six upgraded general purpose lanes, five grade-separated interchanges, four new bridges, two new tolled direct connect flyover ramps at SH 71, and the installation of intelligent traffic management systems. The project also includes bike lanes, pedestrian sidewalks, and shared-use paths. The project will be constructed in two phases. Phase 1 between US 290 and Bolm Road is expected to be completed in late 2019, and Phase 2 continuing from Bolm Road to SH 71 about one year later.

Cost

Total project cost - $859.6 million (design-build contract - $581.5 million)

Funding Sources

Senior toll revenue bonds - $366.8 million

TxDOT grant funds - $147.8 million

TxDOT SIB loan - $30 million

TxDOT toll equity loan - $30 million

TIFIA loan - $282.2 million

Interest earnings - $2.8 million

Project Delivery / Contract Method Design-build
Private Partner

Colorado River Constructors

  • Fluor Corporation
  • Balfour Beatty Construction
Project Advisors / Consultants

To USDOT TIFIA JPO

  • TIFIA Financial Advisor - The Louis Berger Group
  • TIFIA Legal Advisor - Skadden, Arps, Slate, Meagher & Flom LLP
Lenders

Bondholders, TxDOT, USDOT TIFIA

Duration / Status

Commercial close reached on November 18, 2015.

Construction began in April 2016.

Construction expected to be complete in late 2019 (Phase 1) and late 2020 (Phase 2).

TIFIA Credit Assistance

Direct Loan - $282.221 million

The TIFIA loan will be repaid through Pledged System Revenues.

Financial Status

The TIFIA credit agreement was signed on November 18, 2015. TIFIA loan repayments begin in July 2024 (interest only) and July 2025 (interest and principal commences) with final repayments expected in July 2049.

Innovations The project incorporates Context Sensitive Solutions to bring aesthetic enhancements to the corridor. These features resulted from a 16-month planning and public input process conducted by CTRMA and the Texas Department of Transportation. They include enhanced landscape such as neighborhood specific tree species and native, drought resistant plants that reduce water consumption and help control soil erosion. Community connections are planned through trailheads, roadway crossings, and intersection improvements for pedestrians. Regional identity will be emphasized in bridge and retaining wall design. Large oak trees will be preserved throughout the project limits by applying Best Management Practices.
Related Links / Articles

CTRMA Project Website

Contacts

Bill Chapman
Chief Financial Officer
CTRMA
Website Contact

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