Location |
Houston Metropolitan Region, Texas |
Project Sponsor / Borrower |
Texas Department of Transportation |
Program Areas |
|
Fiscal Year Approved |
Fiscal Year 2014 |
Mode |
Toll Highway |
Description |
Grand Parkway, SH 99 D-G is a 53-mile segment of the planned 180-mile circumferential Grand Parkway toll highway around the Greater Houston Metropolitan Region. The Grand Parkway is divided into 11 segments in all (A through I-2), to be constructed at different times as deemed necessary. This project includes five segments situated along the northwest portion of the parkway alignment from just south of I-10 to I-69/US 59N (Eastex Freeway):
The Parkway segments provide two lanes in each direction with intermittent frontage roads. |
Cost |
$2.9 billion |
Funding Sources |
TIFIA loan - $840.645 million
|
Project Delivery / Contract Method |
Design-Build |
Private Partners |
Segments D-E Design-builders: Williams Brothers Construction, Webber, Hassell Construction, J.D. Abrams, and Lone Star Road Construction Segments F-G Design-builder: Zachry-Odebrecht Parkway Builders (Joint venture of Zachry Construction Corporation and Odebrecht USA) Engineering consultants:
|
Project Advisors/Consultants |
Estrada Hinojosa & Co., Inc. - Financial Advisor Goldman Sachs - Underwriter for the Revenue Bonds Mayer Brown - Counsel to the Borrower To USDOT TIFIA JPO:
|
Lenders |
Bondholders, USDOT TIFIA |
Duration / Status |
Segment D construction is complete. Segment E opened to traffic in December 2013 and began tolling on February 1, 2014. TxDOT awarded Segments F-G to Zachry-Odebrecht Parkway Builders in September 2012. Construction began July 2013. Segments F-1 and F-2 were completed and began tolling in February 2016. Segment G was completed and began tolling in March 2016. |
TIFIA Credit Assistance |
Direct Loan: $840.645 million TIFIA will be repaid with toll revenues from the Grand Parkway System |
Financial Status |
TIFIA credit agreement was executed on February 6, 2014. Financial close occurred on February 6, 2014. TxDOT issued $2.9 billion in Grand Parkway System Toll Revenue Bonds in July 2013. Approximately half will go to funding the construction of Segments F-G of the parkway. |
Innovations |
|
Related Links / Articles |
Grand Parkway Project Website (Segments F-1, F-2, G) Grand Parkway Association Website (affiliated with TxDOT) |
Contacts |
Brian Ragland |