On March 26, the Florida Department of Transportation (FDOT) celebrated the grand opening of the $1.2 billion I-595 Express Corridor Improvements Project (Project) in Broward County, Florida. The Project is the nation’s first Availability Payment public-private partnership and the first public-private highway deal in Florida.
The Project consists of the reconstruction of the I-595 mainline from the I-75/Sawgrass Expressway interchange to the I-595/I-95 interchange on I-595 and from Peters Road to Griffin Road on Florida's Turnpike, for a total project length of 13 miles. The Project includes three reversible express, variable-toll lanes at grade in the median of the existing highway, from Interstate 95 to Interstate 75, a distance of approximately 10 miles.
- I-595 improvements completed over 15 years sooner than originally projected
- Innovative design/build processes allowed for execution of the I-595 Project in record time
- Less than 0.7% of the construction cost in scope changes
- No time added to the contract
- All project milestones achieved
- Project of the Year Award in 2009 by the American Road & Transportation Builders’ Association (ARTBA) for outstanding contributions to the promotion of public private partnerships that advance transportation infrastructure improvements
- Award of Excellence in Civil/Public Works in 2010 by Southeast Construction Magazine for partnering with three private golf courses for storm water treatment and saving millions of dollars in right of way acquisitions.
- 2009 North American Transport Deal of the Year by Project Finance Magazine.
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