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C-470 Express Lanes

Map of location of C-470 Express Lanes Project
Project Type: 
Roadways and Bridges
Sponsor / Borrower: 
Colorado High Performance Transportation Enterprise (HPTE)
Credit Agreement Status: 
Active
TIFIA Assistance: 
$106.95 million
Primary Revenue Pledge: 
Toll Revenues
Project Cost Details: 

$325.1 million in total eligible project costs

Duration / Status: 

Construction commenced October 2016.  Substantial completion is expected in late 2019.

Fiscal Year Closed: 
FY2017
Project Description: 

The project is a 26-mile highway that runs along the southern and western part of the Denver metropolitan area, linking the intersection of I-25 and E-470 in the east, to the intersection of US-36 and I-70 in the west. The project is intended to deliver additional capacity along this congested corridor by adding express tolled lanes (ETLs) and improving road layout over approximately 11.2 miles of the highway. Proposed work includes:

  • Two westbound ETLs from I-25 to 0.9 miles east of the University Boulevard off-ramp (near Colorado Boulevard), transitioning into one ETL from that location to just east of Wadsworth Boulevard, for a total length of 11.2 miles
  • Westbound auxiliary lanes between ramps from University Boulevard to Platte Canyon Road/Chatfield Avenue and from Yosemite Street to Quebec Street
  • One eastbound ETL from Wadsworth to I-25/E-470.

HPTE expects the project to provide up to 18 minutes in travel time savings for a westbound trip from I-25 to Wadsworth during peak and evening commute times, once the facility opens and motorists have time to adjust to the new ETL option.

Funding Sources: 
  • Bond Proceeds: $157.4 million
  • TIFIA Loan: $106.95 million
  • RAMP Funding: $40.0 million
  • FASTER & other local funding: $12.0 million
  • HSIP funding: $6.3 million
  • Water quality funding: $2.4 million
Project Delivery / Contract Method: 

 Design-Build (DB)

Project Advisors / Consultants: 

 To Colorado HPTE:

  • Financial Advisor - Ernst & Young Infrastructure Advisors, LLC and FirstSouthwest
  • Legal Advisors - Nossaman LLP and Sherman & Howard, L.L.C.

To USDOT Build America Bureau:

  • Financial Advisor - Project Finance Advisory Ltd.
  • Legal Advisor - Skadden, Arps, Slate, Meagher & Flom LLP
Project Lender(s): 
USDOT TIFIA
TIFIA Credit Assistance Detail: 

Direct loan: $106.95 million. The TIFIA loan will be repaid through a pledge of the project’s gross toll revenues.

Financial Status: 
The TIFIA Loan Agreement was executed on June 7, 2017, and is expected to mature in 2054.
Project Contacts: 

Colorado High Performance Transportation Enterprise
nicholas.farber@state.co.us
(720) 248-8544

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