Dubbed the “I-4 Ultimate,” the $2.3-billion, 21-mile-long reconstruction of Orlando’s only interstate highway is pushing the limits of public procurement while pressing contractors to deliver a massive, urban-intensive transformation. The design-build public-private partnership (P3) project stands as the Florida Dept. of Transportation’s largest-ever procurement, as well as one of the nation’s largest infrastructure contracts.
FDOT’s P3 agreement, signed in May 2014, charges concessionaire I-4 Mobility Partners with designing, constructing, financing, maintaining and operating the project for 40 years. The P3 team’s financial proposal included $105 million in equity provided by Skanska Infrastructure Development and John Laing Investments Ltd., along with a $950-million TIFIA loan and $487 million in bank debt, according to the state.