Elizabeth River Tunnels
Increasing travel options and improving safety
Project would add a new two-lane tunnel under the Elizabeth River adjacent to the existing Midtown Tunnel; extend the MLK from London Boulevard to Interstate 264 (I-264), with an interchange at High Street, and add Fire and safety upgrades in downtown tunnels.
Overall, the project will generate an estimated annual increase in gross regional productivity of $170-$254 million for the Hampton Roads area of Virginia.
- Will save average round trip user about 30 minutes a day
- Roadway safety will improve with elimination of bi-directional traffic in existing Midtown Tunnel
- Provides greater accessibility to jobs, educational facilities, medical services, shopping and tourism
- Directly supporting more than 1,700 local jobs
- Awarding contracts totaling more than $308 million to small and disadvantaged businesses
- Working with private sector partners Macquarie/Skanska, this P3 transaction reached financial close in April 2012 with construction completion scheduled for 2018.
- The final financial agreement included a state contribution of $503 million, combined with private sector investment, leveraged a total project valued at $2.1 billion, including a new immersed tube tunnel facility at the Midtown crossing, tunnel rehabilitation at the existing Midtown Tunnel and two Downtown Tunnels, as well as development of Martin Luther King Boulevard Extension to I-264.
Substantial completion reached in 2016.
Elizabeth River Tunnels (“Driveert”)
Comprehensive Agreement (executed contract; signatures on file)
Exhibits to Comprehensive Agreement:
- CA Amendment No. 1
- DT-MT-MLK Assignment and Assumption Agreement for IA
- DT-MT-MLK Termination of IA and Release of Guaranty_Part1
- DT-MT-MLK Termination of IA and Release of Guaranty_Part2