TxDOT finalizes buyback of SH 288

Oct 8, 2024 · TxDOT will begin plans to build two free general-purpose lanes along portions of SH 288 between IH 610 and Beltway 8 by no later than 2030 (one lane in each direction). Under …

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Abbott, Patrick Bless TxDOT's $1.7B Texas 288 Toll Lane Buyout

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Aug 27, 2024 · The SH 288 managed lanes are set to go into state control after the Texas Transportation Commission agreed earlier this month to TxDOT's proposal to break a 52-year …

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TxDOT Acquires State Highway 288 For $1.7 Billion, Promises Toll

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Oct 10, 2024 · TxDOT has completed the SH 288 buyback, aiming to offer future toll relief, maintain free lanes, and ensure the financial self-sufficiency of the project.

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TxDOT Buys Back SH 288 Toll Road From Private Equity Partner

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Oct 23, 2024 · The Texas Department of Transportation has terminated the only public-private toll road partnership in the state, spending $1.7 billion to buy back ownership of a portion of State …

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TxDOT Pushes Ahead With Buyout Of SH 288 Private Toll Road

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Aug 30, 2024 · TxDOT pushes forward on buyback of SH 288 Action would reduce average daily toll rates by 50%. Aug. 23, 2024. AUSTIN – To provide Texans with toll relief and more free …

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Texas 288 Toll Lanes Now Officially Under TxDOT Ownership

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Nov 1, 2024 · TxDOT opted to pay the private company overseeing the lanes $1.7 billion to buy-out the road. TxDOT anticipates paying off the $1.7 billion buy-out payment with future toll …

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TxDOT Buys Back SH-288 Toll Road, And Drivers Want To Know …

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Dec 19, 2024 · Texas officials say TxDOT could consider removing tolls on 288 Expressway once the planned $1.7 billion of debt has been paid off. ... TxDOT buys back SH-288 toll road, and …

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TxDOT Buys Back SH-288 Toll Road, And Drivers Want To Know …

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Dec 19, 2024 · Officials say TxDOT could consider it once a $1.7 billion debt is paid off. News. ... TxDOT buys back SH-288 toll road, and drivers want to know when toll prices will drop. KTRK …

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FAQs about TxDOT finalizes buyback of SH 288 Coupon?

Will TxDOT buy out SH 288?

Not only will this bring future toll relief and additional free general purpose lanes for drivers, but the state is acquiring a $4 billion asset for $1.7 billion,” said TxDOT Executive Director, Marc D. Williams. “This type of buy-out is unprecedented in the United States and is a very big win for SH 288 drivers and our taxpayers.” ...

What will Texas do with State Highway 288?

It will allow the State of Texas to receive over $2 billion in added valuation. TxDOT will use the added value to slash future toll charges and to build free lanes on that segment of State Highway 288. I thank TxDOT for making it easier and cheaper for Texans to travel that route.” ...

Who buys back Highway 288 toll lanes?

Houston Traffic: Texas Department of Transportation buys back Highway 288 toll lanes from Blueridge Transportation TxDOT is moving forward with a... HOUSTON, Texas (KTRK) -- The Texas Department of Transportation is moving forward with a plan to end its agreement with the private company that oversees the toll lanes on Highway 288. ...

Will toll policies change on SH 288 managed toll lanes in Harris County?

Tolling policies on the SH 288 managed toll lanes in Harris County will not change in the short term, due to a contractually required transition period. However, by transferring the project to state control, TxDOT anticipates that future toll rates will be able to be reduced and will escalate at a slower pace than allowed under the CDA. ...

What happened to Highway 288 in Harris County?

TxDOT stated that it terminated its agreement for SH 288, and the state will now operate the road. HARRIS COUNTY, Texas -- Drivers heading down Highway 288 in Harris County could soon see tolls reduced after the state acquired the toll road, officials with the Texas Department of Transportation said in an Oct. 8 news release. What you need to know ...

How much will TxDOT's $4 billion asset help Texas drivers?

"We will provide meaningful relief for Texas drivers along this corridor. Securing a more than $4 billion asset for just $1.7 billion will not only benefit Texas drivers, it will also enable TxDOT to continue investing in and advancing crucial roadway projects across the state. ...