IDOT to pursue P3 for I-55 managed lanes project

Illinois– The Illinois Department of Transportation (IDOT) will update the public today on proposed changes to its Interstate 55 managed lanes project. Originally intended to add a single lane in each direction between Interstate 294 and Interstate 90/94, IDOT now hopes to include a second managed lane.

 

The state received federal approval in 2016 to build a single managed lane in each direction of I-55 between Interstate 355 near Bolingbrook to I-90/94, the Dan Ryan Expressway, in Chicago. IDOT would pursue a public-private partnership to fund the project, though a funding source hasn’t been identified. The managed lanes would be tolled.The project website is here.

SDSU wants P3 for Mission Valley area-stadium site

California– San Diego State University (SDSU) is closer to getting a new stadium. The university revealed its $3 billion, 15-year SDSU Mission Valley initiative. The initiative includes the Mission Valley area-stadium site. To avoid raising student fees or state money to finance the new stadium, the city is turning to a public-private partnership (P3).

 

SDSU’s plans include a 35,000-seat college football stadium that could be expanded to accommodate professional sports, 4,500 residential units for the university, retail, office buildings, two hotels and 90 acres of parks and plazas. SDSU does not own the property yet and is facing competition from a private company. San Diego voters will decide between the two proposals in November.

City of Falls Church develops timeline for new school and commercial development

Virginia– Members of three leading city of Falls Church groups are moving ahead on the George Mason High School campus and 10-acre commercial development projects following the approval of a $120 million bond earlier this month. The timeline on the school begins with the school board issuing a request for qualifications (RFQ) for school design and construction. The next step is to approve a list of respondents by February and issue a request for proposals (RFP) for school design and construction. The final contract is slated to be approved by July 2018 and the final school design will be ready by July 2019, with the notice to commence with the construction also coming that month. City officials plan to open the new George Mason High School in the summer of 2021.

 

The city council is simultaneously planning a 10-acre commercial development that would commence fall of 2021. Approval of the Comprehensive Plan modifications will be due by February 2018 and the issuance of an RFQ for economic development is also due in February. The project will require another $10 million bond to be approved in the May 2018 election. If approved, the city can issue an official RFP and work to obtain the rest of the financing needed to complete the project.

UD focused on $750M capital campaign for campus upgrades

Delaware– The University of Delaware (UD) is continuing a $750 million capital campaign focused on additions to the STAR Campus, the recently created Biden Institute and upgrades to the Delaware Stadium. The university has already raised $500 million. UD will construct a new building to house the Biden Institute and expand the School of Public Policy and Administration.

 

The first phase of the stadium upgrade will focus on the home-side bleachers and include the construction of a stadium club and a new press box, installation of chair-back seating in the middle three sections, and upgrades to restrooms and concession stands. An athletic center and a plaza will be built in front of the stadium. The STAR Campus will be built for graduate and doctoral students. The University hopes to fund the project they’ve termed graduate city through a public-private partnership. The exact cost of this project is unknown as it is still being developed. UD also announced plans for a $156 million biopharmaceutical lab, which will join other proposed projects at the site, including the Chemours building, a 10-story tower and the existing health sciences complex.