In a series of moves in late July and August, the Texas Department of Transportation (TXDoT) confirmed its plans to terminate the concession for the SH-288 P3 in Houston. The state will pay concessionaire Blueridge Transportation Group approximately $1.73 billion for the concession buyout, and plans to take over operations of the express lanes in October.
On July 30, the Texas Transportation Commission voted to authorize the acquisition and takeover of the concession. The October transition is important to the state – per the concession agreement, the termination price would increase to approximately $1.94 billion once the concession enters its fourth year of operations, which will begin in November.
