Fort Lauderdale, Florida
I-595 was the first PPP project in the State of Florida and the first availability payment-based PPP in the U.S. The project enhanced capacity along 10.5 miles of heavily-used interstate highway, created three reversible, congestion-priced toll lanes, and includes 35 years of operations and maintenance. The $1.8 billion financial closing occurred in March 2009 and was $200 million below the State’s estimates. Bids were received one week before the Lehman bankruptcy in September 2008. The works were completed on time and on budget in March 2014.