HPTE issued a Request for Qualifications for a DBFOM concession for Phase 2 in February 2012. Phase 2 included the design, construction and financing of the remaining five miles of U.S. 36, as well as the operation and maintenance of the managed lanes in both Phase 1 and 2 and the existing managed lanes on I-25, which connect U.S. 36 to downtown Denver. A final Request for Proposals was released in late 2012 to three shortlisted bidders, and the concession was awarded to Plenary in April 2013. HPTE and Plenary signed the concession agreement for the project in June 2013 formally concluding the competitive bidding process and achieving a milestone referred to as reaching "commercial close." Plenary reached financial close on the project in February 2014 after having begun early construction activities in late 2013. Phase II opened to traffic January 2016 and began tolling in March 2016. Tolling along Phase I had started in July 2015.