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By Dominic Bonaiuto
Rappahannock News Staff Writer >
A group of private investors is proposing to take over operation and maintenance of the Dulles Tbll Road for the next 50 years in exchange for paying up front Virginia’s share of expanding rail into the corridor and making a series of upgrades to the roadway itself.
Dubbed a “twin win” for everyone in the corridor, the “Dulles Corridor Mobility Initiative” would invest more than $1 billion in cash and road improvements over the term of the deal.
The group is expected to unveil its public-private partnership proposal this week at the Tbwer Club in Tysons Comer.
According to a summary of the plan, Virginia would receive a lump-sum payment to cover the toll road’s contribution to the first phase of Metro’s expansion into Tysons Comer and out to Reston.
That amount would also include a “significant portion” for the second phase of expansion to Dulles International Airport and Loudoun County.
“I think the fact that we are making this proposal now will give everyone a lot more comfort to go forward with the project,” said Curt Coward, president of Vienna-based Trident Investment, which is advising the group.
Both the airport, which owns the right of way, and land owners in Reston and
91.8%