The Texas Transportation Commission Thursday conditionally awarded the LBJ Development Partners, a private-public partnership, a contract to finance, design, construct, operate and maintain the $4-billion, 13-mile LBJ-635 corridor in Dallas. The PPP’s main partner is Spanish toll road developer Cintra, which will lead the design and construction team. The 55-year contract is expected to be finalized in two months. The project could begin as early as mid-2010 with completion expected in four to five years. The design will enable the new highway to be constructed while minimizing the need for additional right of way, according to the Texas Dept. of
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.