Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM All Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: June 14, 2017

Project Name: Miami (FL) I-395/SR 83611/I-95 PPP
Year in Operation: 2022
Sector: Transportation
Subsector: Roads, Bridge
Status: Design / Construction
Type: Substantial Alteration of Existing Facility
Description: The project begins on SR 836 at NW 17 Avenue and continues through the Midtown Interchange (I-95/State Road 836/I-395) along I-395 to the MacArthur Causeway Bridge for approximately 3 miles in the east-west direction. I-395 is an Interstate Principal Arterial and a major east-west connector for the beaches and port; SR 836 is a Principal Urban Arterial that is also a major east-west connection to the Midtown Interchange. The project limits also include I-95 from NW 8 Street to NW 29 Street. SR 9A/I-95 is an Urban Interstate Principal Arterial and major north-south connector to downtown Miami. There are both dense urban and residential areas within the project limits. The project will address roadway safety, corridor capacity, a variety of design issues, aesthetics, and provide a Signature Bridge design over Biscayne Boulevard.
Delivery Method as described in the country where it's located: Public Private Partnership
Is the project still active: Yes
Comments: The preferred PPP partner was identified in May of 2017, the Archer Western-de Moya Joint Venture. The project has not yet reached commercial or financial close. Early estimates for construction completion is four years from commencement (assume 2022).

Project Locations

Address: SR 836 at NW 17 Avenue
City: Miami
State: Florida
Country: United States of America

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: The project involves the complete reconstruction of portions of I-395 in Miami to the intersection with I-95, reconstruction of pieces of I-95 north and south of that intersection, and FL route 836. Signatures bridges are included. The project is replacing current structures.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): Yet to be negotiated. This appears to be an availability payment arrangement, as none of these roads (all of which exist, and are being substantially rebuilt) are currently tolled.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers: To be determined. Estimated hard construction cost for all elements is $902 Million, in 2017 dollars.

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: TBD.

Checkbox Checked

From Producers as Equity: TBD.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? No
Project Finance Method: All By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
0
0
Forms
Description
To Be Determined
The length of a potential PPP concession was not disclosed in May, 2017. How the project will be financed has not been finalized, as of May, 2017. 

Project Value (If and As Known)

Date of Estimated Project Value: April 25, 2017
Project Value
Hard Cost
Hard & Soft Costs
Construction
$250 Million - 1 Billion US
$250 Million - 1 Billion US
Total
$500 Million - 2 Billion US
$500 Million - 2 Billion US

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