ATLANTA — A project to add new express lanes for drivers needing a faster way to reach their destinations is moving forward to becoming a reality.
The State Transportation Board of Georgia approved the selection of a private sector partner for the Georgia 400 Express Lanes Project on Thursday. This allows the Public Private Partnership project to move forward, according to a release.
The Georgia Department of Transportation and the State Road Tollway Authority (SRTA) evaluated technical and financial proposals to decide to name SR 400 Peach Partners, LLC as the apparent successful proposer.
In general, the project will add new express lanes in both directions along an approximately 16-mile section of Georgia 400 from the North Springs MARTA Station (Exit 5C) in Fulton County to approximately one mile north of McFarland Parkway (Exit 12) in Forsyth County. Like existing express lanes in the state, the new one will have variable-priced tolls that allow drivers to bypass congestion.
GDOT said that the private sector partner will design, build, finance, operate and maintain the express lanes in accordance with parameters by GDOT and the SRTA. This approach helps reduce the public money needed since the partner will finance the project. The toll rates will also be subjected to SRTA's contractional requirements.
The Georgia 400 express lanes will operate with the Peach Pass. Also, customer billing will be done by the SRTA -- as is currently typical, GDOT stated.
According to a release, SR 400 Peach Partners, LLC provided an improved design to the project, resulting in more access throughout the 400 corridor as well as extending the express lanes further south to Abernathy Road.
The total design and construction cost for this is $4.6 billion, GDOT said. The company committed to making a concession payment to the state of $4.05 billion and will deliver the project through a combination of financing methods. As a result, the project will not require any additional public funding to build, operate and maintain.
The project also includes a $100M state bond investment for major components of MARTA's Bus Rapid Transit (BRT) line, which will ride for free in the express lanes. The line will begin at the North Springs MARTA Station and extend northward to the Windward Parkway MARTA Park and Ride. It will also provide a connection to MARTA's Red Line train, GDOT said. In addition to building portions of two BRT stations at Holcomb Bridge Road and at the North Point Mall area and direct access to North Springs station and Windward Parkway. The developer will be providing an additional $26 million to MARTA to support this.
According to GDOT, the project is slated to be operational by 2031. For any more information about this project, click here.
