You are here

Parallel Thimble Shoal Tunnel Project

CBBT Map
Project Type: 
Roadways and Bridges
Sponsor / Borrower: 
Chesapeake Bay Bridge and Tunnel District (CBBT District)
Credit Agreement Status: 
Active
TIFIA Assistance: 
$338.5 million
Primary Revenue Pledge: 
Toll Revenues
Project Cost Details: 

$1.074 billion

Duration / Status: 

Substantial completion is expected in 2022.

Fiscal Year Closed: 
FY2017
Project Description: 

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.

Funding Sources: 
  • 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
Project Delivery / Contract Method: 

Design-Build

Project Advisors / Consultants: 

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
Project Lender(s): 
USDOT TIFIA
Virginia Transportation Infrastructure Bank (VTIB)
TIFIA Credit Assistance Detail: 

Direct loan: $338.5 million.  The TIFIA loan will be repaid through a pledge of the project’s toll revenues.

Financial Status: 
The TIFIA credit agreement was signed on November 10, 2016. Principal repayment of the TIFIA loan will begin with substantial completion and will amortize through a 32-year maturity with the final maturity anticipated in 2054.
Project Contacts: 

Thomas Anderson
Chesapeake Bay Bridge and Tunnel District
Cape Charles, VA
Phone : (757) 331-2960
Email: tanderson@cbbt.com

Submit Feedback >