Roads · Project Example
|City||San Francisco, CA|
|Client||California Department of Transportation et al.|
|Contract||Planning, partial financing, construction and operation of a new southern access route to the Golden Gate Bridge in San Francisco, California|
|Contract period||33.5 years (2012-2045)|
|Shareholders||HOCHTIEF PPP Solutions North America (50%), Meridiam Infrastructure North America (50%)|
The Golden Gate Bridge is getting a new southern access route. The approximately 2.5-kilometer-long road which runs along the north coast of San Francisco, will open up access to historical and cultural landmarks and will be seismically far safer than the current access road which was built in the 1930s. The Presidio Parkway contract has a volume of around EUR 800 million and runs for 33.5 years. After completion the road will run from the toll station on the Golden Gate Bridge in the west to Broderick Street in the east.
The consortium, led by HOCHTIEF PPP Solutions North America, reached financial close on the project in 2012. HOCHTIEF’s US subsidiary will plan, build, operate and partially finance the project together with infrastructure fund Meridiam. Both partners have a 50 percent shareholding in the concession company, Golden Link Concessionaire.
Sustainability aspects were important right from the tender phase, as the project is endeavoring to earn a Greenroads Foundation certificate. On this project, all eleven mandatory “Project Requirements” are met. These include an end-to-end environmental approach, quality control, noise mitigation, and minimum air pollution. A huge amount of the building debris and waste is being recycled. Early on, a sustainability management plan was drawn up and an environmental manager appointed.
More about Flatiron PPPs
Flatiron Construction Corp.
Headquarters 385 Interlocken Crescent
CO 80021 Broomfield • USA
Tel: +1 303 485-4050
Fax.: +1 303 485-3922
HOCHTIEF PPP Solutions North America Inc.
375 Hudson Street 6th Floor
NY 10014 New York • USA
Tel: +1 212 2296479
Fax.: +1 212 2296416