Fluor-Transurban, Virginia Department of Transportation’s (VDOT) private sector partner, would make a substantial investment upfront to fund construction of the proposed I-95/395 HOV/Bus/HOT lanes, limiting the need for public funds.
In addition, the project is designed to generate revenue to support both capital and operations costs to expand public transportation options in the corridor.
Users of the road would fund the long-term routine maintenance and operations of the lanes through tolls.
VDOT would continue to own and oversee the roads and is managing the environmental review process. Fluor-Transurban would operate and provide maintenance for the HOT lanes. By partnering with the private sector, Virginia would be able to move forward on these projects much more quickly than would be possible using traditional funding and construction methods-capitalizing on the best technology, financing methods, engineering and innovation.
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HOT Lanes project.
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