I-595 Corridor Roadway Improvements
The I-595 Corridor Roadway Improvements project consists of the reconstruction and widening of the I-595 mainline and all associated improvements to frontage roads and ramps from the I-75/Sawgrass Expressway interchange to the I-595/I-95 interchange, for a total project length of approximately 10.5 miles. The project passes through, or lies immediately adjacent to, six jurisdictions: City of Sunrise; Town of Davie; City of Plantation; City of Fort Lauderdale; Town of Dania; and unincorporated areas of Broward County.
A major component of the project is the construction of three at-grade reversible express toll lanes to be known as 595 Express, serving express traffic to/from the I-75/Sawgrass Expressway from/to east of SR 7, with a direct connection to the median of Florida's Turnpike. These lanes will be operated as managed lanes with variable tolls to optimize traffic flow, and will reverse directions in peak travel times (eastbound in the AM and westbound in the PM). The public-private partnership (P3) is between FDOT and a private concessionaire to design, build, finance, operate, and maintain the roadway for a 35-year term. FDOT will provide management oversight of the contract; will install, test, operate and maintain all tolling equipment for the express lanes; and will set the toll rates and retain the toll revenue.
According to the project sponsor, I-595 serves more than 180,000 vehicles per day, and that number is expected to grow beyond 300,000 by 2034. As it is currently the only east-west highway in Broward County, significant capacity improvements are needed to keep pace with growing demand. The utilization of TIFIA financing and P3 structuring allows for project delivery 15 years sooner and with approximately $394 million in financing cost savings compared to more conventional delivery mechanisms.