• 8.8 mile road closing the southeast portion of the loop around Richmond.
• Original Plan: 20,000 vehicles per day
• Reality: 10,000 vehicles per day; bonds dropped to junk status
• Concession taken back from the Pocahontas Parkway Association and sold to Australia's Transurban Group for $611 million in 2006. Transurban agreed to:
- Pay all of Pocahontas Parkway's existing debt (Transurban paid $191 million in equity) - Reimburse VDOT's costs incurred to operate, maintain and repair the Pocahontas Parkway, including upgrading the existing electronic tolling equipment
- Finance and build the Route 895 Airport Connector Road
• VDot officials are pleased with Transurban's management of the asset to date
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107 Virginia Department of Transportation