Commercial close was reached on November 18, 2015. Construction is set to begin in early 2016 and is expected to be complete in late 2019.
The US-183S Bergstrom Expressway Project is an 8-mile toll facility located in the City of Austin, TX, in the US-183S corridor. The Project consists of six tolled main lanes and four to six non-tolled travel lanes which will run through the heart of Austin. Approximately seven miles of the overall eight miles will be tolled.
The purpose of the Project is to improve the network around Austin and to effectively and expeditiously address increased transportation demands resulting from rapid development in the region. Once completed, the Project will be a vital north-south thruway that parallels both I-35 and SH-130, and serve as an alternative route to the heavily congested I-35 expressway through Downtown Austin, which will relieve traffic congestion throughout the region. US-183 not only links commuters from several cities into downtown Austin but is also one of three highways that provide access to the Austin-Bergstrom International Airport, which served over 10 million passengers last year. In its current configuration, with numerous at-grade intersections, US-183 is limited in its mobility and operational benefits which could be maximized by a more complete roadway network.
In addition to the road improvements, the Project also includes: two tolled direct connect flyovers that will link eastbound SH 71 to northbound US 183 and southbound US 183 to westbound SH 71; a new 5-foot bike lane on each side of the project; a 10-foot shared use path, and a 6-foot to 10-foot sidewalk. Approximately $25 million of the total project costs is allocated for the construction of new non-tolled improvements that benefit pedestrians and cyclists.
Senior Bonds: $366.8 million
TxDOT Grant Funds (Parity): $147.8 million
TxDOT SIB Loan (Parity): $30 million
TxDOT TELA Loan: $30 million
TIFIA Loan: $282.221 million
Project Interest: $2.779 million
Design-Build
To USDOT TIFIA JPO:
TIFIA Financial Advisor – The Louis Berger Group
TIFIA Legal Advisor – Skadden, Arps, Slate, Meagher & Flom LLP
Direct loan: $282.221 million.
The TIFIA loan will be repaid through Pledged System Revenues.
TIFIA Loan is secured by a subordinate lien pledge on CTRMA’s system revenues
Mike Heiligenstein – CTRMA, Executive Director
Bill Chapman – CTRMA, Chief Financial Officer