NORTH TARRANT EXPRESS MARKS 10TH ANNIVERSARY OF IMPROVING MOBILITY, FOSTERING ECONOMIC GROWTH

(MENAFN- PR Newswire) First P3 in State of Texas Opened October 4, 2014; Expansion Now Underway

FORT WORTH, Texas, Oct. 4, 2024 /PRNewswire/ -- October 4th marks the 10th anniversary of the opening of the North Tarrant Express (NTE), a 13-mile project spanning from Interstate 820/Interstate 35W in Fort Worth along SH 121/183 to FM 157/Industrial Blvd. in Euless. NTE was the first project approved by the State of Texas and developed under a Comprehensive Development Agreement (CDA).

"Twenty years ago, following the vision of regional elected officials and planners, the Texas Legislature took the bold step of authorizing Public-Private Partnerships (P3s), also known as CDAs, which provide the ability to fund and fast-track critical infrastructure projects," said Alberto Gonzalez, president of Cintra U.S. "Their leadership yielded a rebuilt highway corridor that has improved mobility and driven economic growth during the last ten years in one of the fastest-growing regions in the U.S."

Construction kicked off in late 2009 and the entire corridor opened to the public 10 years ago – nine months ahead of schedule – unveiling fully rebuilt general-purpose (free) highway lanes, new TEXpress dynamically tolled managed lanes, and rebuilt and/or newly expanded frontage roads.

The P3 model allows for faster construction than in a traditional design-bid-build paradigm. The developer, rather than the state, assumes the financial burden and risk with the funding secured upfront through private equity, infrastructure loans, and bonds.

"Public-private partnerships have expedited the expansion of key corridors throughout the fast-growing Dallas-Fort Worth area, providing better reliability by giving drivers a choice of how to travel through the region," said Michael Morris, P.E., director of transportation for the North Central Texas Council of Governments (NCTCOG).

"The improved general-purpose lanes in these corridors allow for safer, more efficient travel, while the TEXpress lanes provide additional dependability for those who choose to take them to get to important appointments throughout the day.
NCTCOG and the Regional Transportation Council were proud to coordinate with North Tarrant Express, the Texas Department of Transportation (TxDOT) and other valued partners to help deliver this highway corridor, a truly transformative project for the region," Morris added.

With a private company behind its development, it allowed for the sourcing of hundreds of local contractors, vendors and suppliers with the expertise and capacity to efficiently complete the work – whether relocating utilities, securing right-of-way, moving dirt, placing beams, building signage and toll gantries, or laying asphalt – at all points along the corridor simultaneously.

"The economic impact of a project like this is phenomenal in terms of creating jobs and providing business to locally owned companies," said Oscar Trevino, former Mayor of North Richland Hills. "Additionally, cities like ours experienced substantive growth in economic development, not to mention the tangible dollars that came to our city and schools through increased tax revenues." It is estimated that the project has had an economic impact of $8.7 billion in time savings, FTE jobs, and economic output.

The P3 model has proven successful: since its opening, drivers have made 175 million trips along the NTE corridor, with 25 million of those in 2023 alone. In the last 10 years, traffic has grown by 55 percent, but the managed lanes have mitigated congestion during peak hours by 30 percent, yielding a time savings of three million hours.

Eight million unique vehicles traveled the corridor in 2023, nearly double the number in 2015. Average daily traffic is now 218,000 vehicles. Despite traffic counts significantly higher than pre-construction levels, traffic in the free main lanes is averaging 55 mph, as more drivers choose to travel in the dynamically tolled TEXpress lanes, which have maintained average speeds of 70 mph.

Drivers have a choice as to whether to drive in the TEXpress lanes. Choice, trip reliability, and safety are all important considerations and underscore the important role P3s play in mobility in the region.

In a further testament to the power of P3s, the project leveraged $1 billion in public funds to create a $6+-billion transportation asset. The operator will continue to provide 24/7 operations and maintenance along the corridor, including maintaining all lanes, roads, bridges, ramps, frontage roads, and medians, for the life of the contract at no cost to the public.

"The North Tarrant Express showcases a new approach for TxDOT in effectively and efficiently delivering much-needed infrastructure improvements to Texans," said Brian Barth, deputy executive director for program delivery for TxDOT. Barth was the district engineer for the Fort Worth District during much of the NTE construction.

As part of the contract with TxDOT, the operator has given funds to the state through a revenue-share agreement or bond refinancing – to the tune of $34 million so far – that can be reinvested in other critical transportation projects that might lack funding.

Also, having met traffic milestones specified in the contract, the project is currently undergoing further expansion. Over the next three years, the project will add new free main lanes and TEXpress managed lanes to accommodate continuing and anticipated growth in the region. This work, with an estimated cost of $414 million, is part of the original P3/CDA agreement and will be completed at no cost to taxpayers.

The P3 model in Texas is not only working, but it is also garnering significant interest from other states, including Tennessee, North Carolina, Virginia and Georgia, which want to accelerate transformational infrastructure projects while limiting public funds necessary to complete them.

"As the NTE corridor has effectively proven, the end goals of expanding mobility, lessening congestion, and fostering economic growth are well within our reach if we continue to promote and pursue collaboration and partnerships among the public and private sectors," said Jose Espinosa, CEO of North Tarrant Express. "Our overall and principal mission in North Texas is to provide reliable and safe mobility across the region and continue to partner with TxDOT, NCTCOG and North Texas Tollway Authority to deliver best-in-class traffic solutions for all drivers," he added.

SOURCE North Tarrant Express

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