Construction is expected to reach substantial completion in late 2018.
The Gerald Desmond Bridge is a major access point to the Port of Long Beach from downtown Long Beach, California and surrounding communities, carrying I-710 over the Port's Inner Harbor to Terminal Island. The replacement bridge will be a six-lane, cable-stayed design, with a 205-foot clearance to allow the newest generation of cargo ships to enter the Port. The bridge will include emergency lanes on the inner and outer shoulders, as well as a bicycle/pedestrian path. The new bridge is being built alongside the current bridge to maintain traffic flow. The replacement bridge is scheduled to open in late 2018.
Construction of the new bridge will provide an economic boost to Long Beach and the region. The more than $1 billion in spending is estimated to generate economic activity of more than $2 billion in Southern California, and the project is anticipated to support 3,000 jobs per year for five years.
- TIFIA Loan: $325M
- LA Metro: $17.3M
- Port of Long Beach: $117M
- State/Caltrans Funds: $153.7M
- Federal Funds: $675M
To the borrower:
- Public Resources Advisory Group - Financial Advisor
- Kutak Rock - Counsel to the Borrower
- Additional Advisors
To USDOT TIFIA JPO:
- TIFIA Legal Advisor: Shearman & Sterling
- TIFIA Financial Advisor: IMG Rebel
Direct loan: $325 million. The TIFIA loan will be repaid with port revenues.
Port of Long Beach and Caltrans jointly procured the project.
Caltrans District 7 Office
Port of Long Beach Communications