The New York and New Jersey Port Authorities have agreed to invest $2 billion into 3 bridges between Staten Island and New Jersey. This will also include the region’s first major public-private partnership to replace the Goethals Bridge costing an estimated $1.5 billion.  This is a major announcement for the NYNJ Authorities as it will be the first time since the George Washington Bridge opened in 1931 that the authority will build a bridge. The companies working with the authority to undertake the work are Macquarie Infrastructure and Real Assets Inc. (MIRA) and Kiewit Development, Kiewit Infrastructure, Weeks Marine and Massman Construction.  The first bridge is due to open in 2016.

The other 2 bridge projects are the resurfaceing of the Outerbridge Crossing and Increasing the Bayonne Bridge’s navigational clearance.  This will allow the new large-scale “post-Panamax” vessels, designed to pass through the new canal zone, to pass under the bridge and gain access to New York and New Jersey Ports

The 3 bridge projects combines are expected to create 5,000 construction jobs and generate over $600 million in wages.

Port Authroity

Image Courtesy of the Port Authority of NYNJ