Lochner MMM Group Selected as Prime Consultant on Currituck Bridge P3 Project

Once again, a great find by a blog reader, Tony. Kudos to the NCTA for assembling what appears to be quite the conglomerate of all stars with proven track records and expertise in the necessary fields. That said, like being a real estate agent, you are graded on results. Below is a release from Lochner posted in Streetinsider.com:

RALEIGH, N.C.--(BUSINESS WIRE)-- Lochner MMM Group announces their selection as the lead consultant for engineering and environmental services on the Mid-Currituck Bridge Private-Public Partnership (P3) project for the Currituck Development Group in partnership with the North Carolina Turnpike Authority (NCTA). Located in Currituck County, North Carolina, the project is estimated at $640 million.

The Currituck Development Group is led by concessionaire/developer ACS Infrastructure Development and Dragados USA with other local engineering and environmental team members, including Arcadis, Golder & Associates, Gibson Engineers, Wetherill Engineering, Gershman, Brickner & Bratton, Alpha & Omega Group, McKim & Creed and Baird & Associates. Team members also include Traylor Brothers, Weeks Marine, Bermingham Foundation Solutions, ARUP, Planning Communities, Deloitte, Jorgensen and TBE Group.

The team was selected over two other shortlisted proposers. The final selection criteria included: development approach, risk-sharing, revenue planning, technical expertise and personnel and resources.

The NCTA is pursuing the project as a pre-development agreement (PDA), rather than a conventional P3. Terms of the PDA allow the private partner to join the project in the conceptual phase to assist with various pre-development elements. Negotiations on the terms between NCTA and the consortium are expected to continue in the short-term as the project planning is underway. Within 18-months, the NCTA is expected to request a proposal from the consortium for building the new bridge.

The seven-mile project is intended to improve traffic flow between US 158 and NC 12. Additional improvements on NC 12 south of the bridge terminus for a distance of two to four miles, plus improvements on US 158 for emergency evacuation may also be required.

According to Roy Bruce, the environmental and design lead for Currituck Development Group, "The professional team assembled by ACS Infrastructure Development for this project combines proven international P3 experience with extensive North Carolina knowledge. This team is very excited to have this opportunity to work collaboratively with NCTA on this important transportation project."

Lochner MMM Group, LLC is a partnership of H.W. Lochner Inc. (Lochner), a respected US-based engineering firm with a local office in North Carolina for more than 20 years, and the Canadian firm of MMM Group Limited with extensive involvement in more than 18 Canadian P3 transportation projects. The partnership was formed to pursue large-scale public-private partnership transportation projects within the United States. For additional information about Lochner MMM Group, visit www.lochnermmmgroup.com.

Turnpike Board to approve Development Group to build Bridge

The Turnpike Authority is moving full steam ahead for the bridge build. From the real estate end, while activity is slow, I am beginning to get an uptick of inquiry from potential Buyers that correlates with more bridge developments. Hopefully we'll see some stability follow. Below is an article coming from Jeff Hampton of the Virginia Pilot:

Board expected to OK building of $659 million span in N.C.

The North Carolina Turnpike Authority board of directors is expected to approve ACS Infrastructure Development to lead construction and operation of the Currituck midcounty bridge when the board meets on Jan. 21.

Next 18 months
ACS, a North American subsidiary of Grupo ACS of Spain, and eight other companies – including engineers, contractors and a toll operator – will contribute to the investment, design and operation of the midcounty bridge. Final plans and an environmental impact statement are expected to be done early next year.

A group headed by ACS Infrastructure Development, a subsidiary of a firm based in Spain, is set to lead construction and operation of the Currituck midcounty bridge.

The North Carolina Turnpike Authority board of directors is expected to approve the company when it meets on Jan. 21, based on staff recommendations, Steve DeWitt, chief engineer with the authority, said this week.

During the next 18 months, the ACS partners - collectively known as Currituck Development Group LLC - and state officials will work out the design and operation of the seven-mile-long toll bridge over the Currituck Sound, DeWitt said. As part of a private-public partnership intended to cut costs and speed up completion, the group is also an investor in the project.

The model follows a pattern often used in Europe, DeWitt said. Traditionally in North Carolina, contractors bid on projects already designed and make no financial investment.

Completion of the Currituck midcounty bridge is on target for 2013 at an estimated cost of $659 million.

The span, to connect Aydlett on the mainland and the Currituck Outer Banks, is expected to save about an hour travel time, bypassing much of the heavy tourist traffic.

Most state and local officials support construction of the bridge, a project first put on the state's transportation project list in 1989. But costs and environmental concerns delayed construction.

Some residents have opposed the project, saying it would increase traffic and congestion on the Outer Banks.

The Turnpike Authority was established in 2002 by the General Assembly to speed up construction of as many as nine highway projects using tolls and partnerships with private firms. Plans for six projects, including the Currituck midcounty bridge, are under way.

ACS Infrastructure Development, a North American subsidiary of Grupo ACS of Spain, and eight other companies - including engineers, contractors and a toll operator - will contribute to the investment, design and operation of the midcounty bridge.

Final plans and an environmental impact statement are expected to be done early next year.

Toll revenues would offset costs. Earlier projections of tolls ranging from $8 to $12 could change, DeWitt said.