by James A. Bacon
The public-private partnership deals are coming fast and furious. The McDonnell administration announced a new one today, a $940 million agreement in principle with Fluor-Transurban to build, operate and maintain a 29-mile HOT/HOV lane project on Interstate 95 from the Springfield Bypass to Stafford County.
“With HOT lanes on both the Beltway and I-95, we will create a region-wide network of managed lanes that will enable travelers to get to and from some of Virginia’s most employment centers and military sites,” said Transportation Secretary Sean T. Connaughton in a prepared statement.
Highlights of the project include:
- Expansion of HOT/HOV capacity from two lanes to three for 14 miles in the northern leg, improvements to six miles in the middle leg, and extending the HOV/HOT lanes for nine miles into Stafford County, “alleviating the worst bottleneck in the region.”
- Establishing a seamless connection with the Interstate 495 HOT lanes now under construction.
- Free access for High Occupancy Vehicles.
- Investment of $200 million into the expansion of regional bus services, including construction of more than 3,000 new park-and-ride spaces. A Department of Rail and Public Transportation study recommended a total of 9,575 park-and-ride spaces, 46 more buses, off-site parking, shuttle services at the Franconia-Springfield Metrorail station and other intermodal features.
The project will generate revenue by charging single-occupancy vehicles for using the HOT lane; traffic volume will be regulated to ensure minimum travel speeds. The price will vary according by time of day, fluctuating with demand.
The commonwealth will contribute $97 million to the project. Fluor-Transurban will pay for the rest. The consortium will have a 73-year franchise.
The statement provided no details on what toll rates are expected. Connaughton undoubtedly will provide details in a media briefing this afternoon, but I will be on the road to Norfolk, where I will attend the Virginia Transportation Conference tomorrow. Although I-95 HOT lanes are not on the schedule of events, I would be surprised if the topic doesn’t come up for discussion.