The American Road & Transportation Builders Association (ARTBA) has selected the North Tarrant Express highway as its P3 project of the year. The Texas highway was presented with the award at ARTBA’s 30th Annual Public Private Partnerships in Transportation Conference, held in Washington, D.C.
The winning project demonstrates the value that P3’s (Public Private Partnerships) bring to the development of U.S transportation, with entrants for this years’ award evaluated on innovation in procurement, financing and delivery, meeting project milestones, demonstrated economic benefit to the public, increased quality and/or efficiency when compared to a traditional procurement model, and cost saving/value for money.
We are thrilled the North Tarrant Express was selected as ARTBA's P3 Project of the Year. We are proud to be a part of this successful partnership that demonstrates the benefits and value a P3 can bring to a community.
The 13.5 mile North Tarrant Express has improved safety and doubled highway capacity across six municipalities in northern Texas. Beginning in 2010, the project finished 9 months ahead of schedule and carries up to 200,000 cars on the corridor daily.
The highway also uses the Managed Lanes concept, a variable toll that adapts its pricing depending on traffic, guaranteeing its users a minimum speed and reduction in travel times.
We are proud to be working alongside TxDOT and regional transportation planners to better manage mobility into the future of this area.