Virginia receives three concept proposals for US460 as P3 project second time around
In a second go-around at doing a toll concession to build a US460 toll expressway Petersberg to Suffolk, Virginia DOT has received three "conceptual proposals." They made this announcement today but have not yet released the proposals or characterized them.
They say today the proposals are from:
(1) Cintra Infraestructuras SAU, comprised of Cintra Infraestructuras SS, Ferrovial Agroman, SA, Janssen & Spaans Engineering Inc, A. Morton Thomas and Associates Inc, American Infrastructure
(2) 460 Partners Inc comprising: Moreland Property Group Inc, Infrastructure Capital Partners LLC, CGA Capital, Bank of America, Lane Construction Corporation, Skanska USA Civil Southeast Inc, AECOM, Transfield Services North America
(3) Multimodal Solutions LLC, made up of Edgemoor Real Estate Services LLC, Clark Construction Group LLC, Shirley Contracting Company LLC, Autostrade SpA, Keiwit Construction Inc, The Louis Berger Group, Barclays Capital
A procurement that was started in 2006 was terminated May 2008 due to the financial crisis, but restarted earlier this year. In addition the groups involved said the project required substantial public subsidies to be financially viable.
US460 is an alternate route to the Norfolk/Hampton Roads metro area with its port and US naval bases and the Atlantic coast to the east and south, and the Richmond metro area and the I-95 corridor to the west.
The project is to be a 55 mile, 89km 2+2 lane expressway with nine interchanges (counting connections at either end.) It closely parallels an existing US460 which is a 4-lane undivided surface arterial. The US460 expressway route has all the necessary state and federal approvals.
As well as competing with the surface US460 the project has to compete with I-64 between the northern portion of Richmond and Hampton Roads/Norfolk and located parallel on the northside of the tidal James River.
In the late 1990s, Virginia and West Virginia collaborated on a study of potential improvements between Beckley, West Virginia and Virginia Beach that included the US460 Corridor as its eastern end.
A THOUGHT: this project might be viable with tolls on I-64 and higher tolls on the Hampton Road crossings, and enforced lower speeds and truck restrictions on the surface US460. Otherwise there are to many free rides to compete with.