Governor Rick Scott and the Florida Legislature recently gave the green light to the Florida Department of Transportation (FDOT) to move forward with the procurement process for the I-4 Ultimate Project in Central Florida as a Public-Private Partnership (P3).
The $2.1 billion project aims to replace the aging infrastructure of I-4, relieve congestion and enhance safety.
In granting the nod to the public-private partnership, Scott said, the strategic investment of more than $2 billion in transportation infrastructure will provide “more strategic support for businesses to move goods and grow, which is great news for Florida families.”
I-4 Ultimate Project is expected to cover 21 miles from West of Kirkman Road to East of SR 434 and projected to be completed in 5-6 years, once construction begins. According to FDOT, if traditional pay-as-you-go approach to building the project was used, it would take 26 years to deliver the 21 miles of I-4 improvements.
FDOT aims to have the financing in place by the summer of 2014 and begin construction later that year or early 2015.
In addition to improving the 21.1 miles of roadway, the project entails 56 new bridges, including pedestrian crossings, 68 replacements and 13 modifications. As well, 15 major interchanges will be reconstructed.
On March 4, FDOT will host an I-4 Ultimate Project Industry Forum in Orlando to obtain private sector feedback on the project.
