- Briefing Room
|Project Sponsor / Borrower||
Central Texas Regional Mobility Authority (CTRMA)
Highway / Express Toll Lanes
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.
Total project cost - $859.6 million (design-build contract - $581.5 million)
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|
Colorado River Constructors
|Project Advisors / Consultants||
To USDOT TIFIA JPO
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.
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.|
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