Plenary closes first US project: US 36 Managed Lanes
Published 07 March 2014DENVER, COLORADO – Plenary Roads Denver has achieved financial close with the Colorado Department of Transportation’s (CDOT) High Performance Transportation Enterprise on the $175 million second phase of the US 36 Managed Lanes/Bus Rapid Transit Project.
This is Plenary’s first project in the US to reach this milestone.
Plenary Roads Denver, a consortium of infrastructure developer Plenary Group, Ames Construction, Granite Construction, HDR and Transfield Services, has entered into a long-term agreement with HPTE to deliver the project.
Goldman Sachs provided financial services to the consortium.
The US 36 Managed Lanes project involves roadway improvements and expansions to the US 36 highway between Denver and Boulder, as well as the long-term maintenance and operation of the entire US 36 corridor between I-25 and Table Mesa Drive, and the I-25 Express Lanes between downtown Denver and US 36.
It also provides several improvements geared to users of alternate transportation options, through the expansion of facilities relating to the Bus Rapid Transit corridor as well as the completion of a dedicated bikeway through the corridor.
Dale Bonner, Chairman of Plenary’s US operations was excited to mark this important milestone for the project and see it enter its next phase.
“Plenary’s US business is delighted to have the opportunity to partner with the High Performance Transportation Enterprise on this significant piece of civil infrastructure,” Mr Bonner said.
“The project will build on the success of the I-25 Express Lanes to significantly expand and improve the vital transportation corridor between Denver and Boulder for the people and commuters of Colorado.”
The US 36 Managed Lanes project, which is the first CDOT has procured as a P3/PPP, is expected to create hundreds of local construction jobs over the next two years, as well as local operations jobs over its term.
About the Project
The second phase of the US 36 Corridor includes:
- Constructing an Express Lane in each direction of US 36 between 88th Street and Table Mesa Drive for Bus Rapid Transit (BRT), High Occupancy Vehicles and tolled Single Occupancy Vehicles;
- Reconstructing two general purpose lanes in each direction between 88th Street and Table Mesa Drive
- Widening the highway to accommodate 12-foot-wide inside and outside shoulders;
- Replacing the Coal Creek Bridge and rehabilitating and widening the S. Boulder Creek bridge and widening the McCaslin Boulevard bridge to accommodate a diverging diamond interchange;
- Adding Bus Rapid Transit improvements, including new electronic display signage at stations and bus priority improvements at ramps. The improvements also will allow buses to operate on the shoulders of US 36 between interchanges to decrease bus travel time;
- Installing Intelligent Transportation Systems for tolling, transit and traveller information, and incident management;
- Installing a separate commuter bikeway along the rest of the corridor; and
- Improving the RTD station at McCaslin Boulevard.
About Plenary Group
Plenary Group is an independent long-term investor, developer and operator of public infrastructure. Plenary has a portfolio of 23 P3/ PPP projects across the US, Canada and Australia with a total project capitalization of over $12 billion.
Dale Bonner was appointed in March 2013 to spearhead Plenary’s expansion in the US. In December last year Plenary established an office in Los Angeles and has followed with an office in Denver.