Substantial completion is expected in 2022.
The Project entails the construction of a 5,700 foot bored tunnel connecting two southbound trestles of the existing Chesapeake Bay Bridge and Tunnel, a 17.6-mile structure connecting the Norfolk/Virginia Beach areas to Virginia's eastern shore which first opened to traffic on April 15, 1964. When complete, the new tunnel will carry two lanes of traffic southbound and the existing tunnel will carry two lanes of traffic northbound.
- Senior Bonds: $321.5 million
- TIFIA Loan: $338.5 million
- CBBT District Contributions: $226.9 million
- VTIB Loan: $50.0 million
- Other sources: $137.1 million
To CBBT District:
- Financial Advisor – Public Financial Management, Inc.
- Legal Advisors – Nixon Peabody, LLP
To USDOT Build America Bureau:
- TIFIA Financial Advisor – Greengate, LLC
- TIFIA Legal Advisor – Skadden, Arps, Slate, Meagher & Flom LLP
Direct loan: $338.5 million. The TIFIA loan will be repaid through a pledge of the project’s toll revenues.
Chesapeake Bay Bridge and Tunnel District
Cape Charles, VA
Phone : (757) 331-2960