Location |
Seattle, Washington Metropolitan Area |
Project Sponsor / Borrower |
Washington State Department of Transportation (WSDOT) |
Program Areas |
    |
Fiscal Year Approved |
Fiscal Year 2012 |
Mode |
Toll Bridge / Highway / Managed Lanes |
Description |
State Route (SR) 520 is one of two major east-west roadways crossing Lake Washington, located within King County and the Seattle
metropolitan area in the State of Washington. It connects major population and employment centers between Seattle and the region's eastern
suburbs, including Bellevue and Redmond. The roadway extends from its western terminus at Interstate 5 eastward across Lake Washington,
intersecting with Interstate 405, and continuing east to Redmond where it terminates at SR 202. Construction stretches from Seattle's
University District to 108th Avenue NE in Bellevue, with restriping continuing out to Redmond.
The SR 520 Floating Bridge and Eastside plus West Approach Bridge Project includes:
- Pontoon Construction Project - Construction of 33 bridge pontoons and a 55-acre site on Grays Harbor in Aberdeen. Pontoon construction includes 21 longitudinal pontoons 360 feet in length, weighing approximately 11,000 tons, as well as 10 supplementary stability pontoons, and two cross pontoons;
- Floating Bridge and Landings Project - Construction of a new six-lane floating bridge across Lake Washington to replace the aging four- lane bridge, including construction of 44 supplemental stability pontoons and removal of the existing floating bridge;
- Eastside Project - Widening of SR 520 between the eastern shore of the lake and I-405 to six lanes, constructing three community-connecting lids and making other corridor-wide improvements to complete a transit/HOV lane in each direction; and
- West Approach Bridge Project - Construction of a permanent west approach bridge structure to connect westbound traffic from the
floating bridge to the Montlake Boulevard Interchange near the University of Washington in Seattle, as well as to complete the bicycle/pedestrian path from the eastside to Seattle.
|
Cost |
$2,894 million (TIFIA eligible project costs) |
Funding Sources |
TIFIA Loan and Other Toll Funding
- Toll-Backed Bonds - $661 million
- TIFIA Direct Loan - $300 million
- Toll Revenues - $70.3 million
State and Federal Funding
- 2003 Nickel Account - $52.2 million
- 2005 Transportation Partnership Account - $525.9 million
- State and Local Sales Tax Deferral - $159.4 million
- Motor Vehicle Account - $2.6 million
- Direct GARVEE - $923 million
- Federal Pay-As-You-Go Toll Revenues - $198.1 million
Local Funding
- Local Funds - $1.7 million
|
Project Delivery / Contract Method |
Design-build
- Pontoon Construction Project
- Floating Bridge and Landings Project
- Eastside Project
Design-Bid-Build
- West Approach Bridge North Project
|
Project Partner |
Design-builders
- Pontoon Construction Project: Kiewit-General Joint Venture (Kiewit, General Construction Company)
- Floating Bridge and Landings Project: Kiewit/General/Manson, A Joint Venture (Kiewit, General Construction Company, Manson
Construction)
- Eastside Project: Eastside Corridor Constructors (Granite Construction Company, PCL Construction Services, HW Lochner, David Evans & Associates, Perteet)
|
Project Advisors / Consultants |
To the State of Washington
- CDM Smith - Traffic and Revenue Consultant
- Parsons Brinckerhoff - Financial Planning Consultant
- HDR - General Engineering Consultant
- Citi Group - Counselor
- J.P. Morgan - Counselor
- Montague DeRose and Associates - Financial Advisor
- Seattle-Northwest Securities Corporation - Financial Advisor
- Foster Pepper - Legal Advisor
To USDOT TIFIA JPO:
- Hawkins Delafield & Wood LLP - Legal Advisor
- Taylor-DeJongh - Financial Advisor
- Booz Allen Hamilton - Financial Advisor
|
Lenders |
USDOT TIFIA |
Duration / Status |
The project is currently under construction with substantial completion expected on October 1, 2016. |
TIFIA Credit Assistance |
Direct Loan: $300 million |
Financial Status / Financial Performance |
TIFIA loan agreement was executed on October 25, 2012 |
Innovations |
- The new Floating Bridge is designed to withstand a 1,000-year earthquake event and windstorms up to 89 mph.
- The Washington State Legislature authorized the collection of tolls on the existing Floating Bridge beginning in December 2011 to help fund and finance the construction of its replacement. Tolls will also be collected on the new bridge and contribute to its operations and maintenance. Toll collection is all-electronic and toll rates vary by day and time of travel.
|
Related Links / Articles |
WSDOT Project Website
Pontoon Construction Project: Project Management Plan |
Contacts |
Amy Arnis
Assistant Secretary for Strategic Planning and Finance Ops
Washington State Department of Transportation
310 Maple Park SE
Olympia, Washington 98504
Tel: (360) 705-7000
Amy.Arnis@wsdot.wa.gov |
