The Lincoln South Beltway is a first-of-its-kind transportation project which utilizes an innovative Contractor-led financing structure to deliver the largest single-contract project in the history of the Nebraska Department of Transportation (NDOT) at $350 million. Over the next three years Hawkins will construct an 11-mile 4-lane freeway connecting NE-2 and US-77 south of Lincoln, reducing congestion through Lincoln and improving east-west connectivity.
We assembled a team of finance professionals from around the country to tackle the challenge of funding a project of this size, with construction being completed in 3 years but the State making payments over 10 years. The finance team developed a unique Build-Finance structure that allowed Hawkins to issue bonds to cover costs during construction while keeping fixed the maximum quarterly progress payments by NDOT.
Work began in February 2020 starting with clearing of trees and buildings. Earthwork is a major component of this brand new 11-mile 4-lane freeway – we need to move 7 million cubic yards of dirt! Construction of box culverts is also underway with 14 precast and 27 cast-in-place boxes needed.
Check back for updates throughout construction! (Updated 6-12-20)
Nebraska Department of Transportation (NDOT)