The following cost estimates are based on the 12-mile-long parallel trestle project on the Chesapeake Bay-Bridge Tunnel in Virginia and the 3-mile-long cable-stay high-level bridge project on the Sunshine Skyway Bridge in Florida. The data have been adjusted to reflect higher construction and right-of-way costs in the New York metropolitan area. Scott Kozel, webmaster of the "Roads to the Future" and "Pennways" web sites, provided the original cost data.
Oyster Bay-Rye Bridge
CAPITAL COSTS
Based on the following construction costs:
3.5 miles of twin three-lane trestles and a full shoulder on each (@ $200 million per mile) = $700 million 3.0 miles of a six-lane cable-stay bridge with full shoulders = $750 million 8.5 miles of six-lane freeway, Syosset-Oyster Bay approach (@ $100 million per mile) = $850 million 1.5 miles of six-lane freeway, Rye approach (@ $100 million per mile) = $150 million
TOTAL CAPITAL COST: $2.450 billion
INTEREST COSTS:
Based on the issuance of 30-year bonds at 6% interest (coupon paid semi-annually), and assuming straight-line capital depreciation:
Annual interest expense = $65,333,333
TOTAL INTEREST COST: $1.960 billion (over 30 years)
REVENUES
Based on AADT = 75,000 with 20% large trucks and buses:
$8.00 for cars = (60,000 * $8.00 * 365 days) = $175,200,000 per year $20.00 for trucks and buses = (15,000 * $20.00 * 365 days) = $109,500,000 per year Annual revenue = $284,700,000
TOTAL REVENUE: $8.541 billion (over 30 years)
Shoreham-New Haven Bridge
CAPITAL COSTS:
Based on the following construction costs:
16.0 miles of twin two-lane trestles and a full shoulder on each (@ $130 million per mile) = $2.080 billion 3.0 miles of a four-lane cable-stay bridge with full shoulders = $500 million 1.5 miles of four-lane freeway, Shoreham approach (@ $65 million per mile) = $100 million 6.0 miles of four-lane freeway, New Haven approach (@ $65 million per mile) = $390 million
TOTAL CAPITAL COST: $3.070 billion
INTEREST COSTS:
Based on the issuance of 30-year bonds at 6% interest (coupon paid semi-annually), and assuming straight-line capital depreciation:
Annual interest expense = $81,866,667
TOTAL INTEREST COST: $2.456 billion (over 30 years)
REVENUES:
Based on AADT = 25,000 with 20% large trucks and buses:
$12.00 for cars = (20,000 * $12.00 * 365 days) = $87,600,000 per year $30.00 for trucks = (5,000 * $30.00 * 365 days) = $54,750,000 per year Annual revenue = $142,350,000
TOTAL REVENUE: $4.270 billion (over 30 years)
Eastern Long Island Sound Crossing
CAPITAL COSTS:
Based on the following construction costs:
12.5 miles of twin two-lane trestles and a full shoulder on each (@ $130 million per mile) = $1.625 billion 3.0 miles of a four-lane cable-stay bridge with full shoulders = $500 million 32.0 miles of four-lane freeway, Riverhead-Orient Point approach (@ $65 million per mile) = $2.080 billion 3.0 miles of four-lane freeway, Plum Island (@ $65 million per year) = $195 million 6.0 miles of four-lane freeway, Fishers Island (@ $65 million per year) = $390 million 13.0 miles of four-lane freeway, Watch Hill-Westerly (Rhode Island) approach (@ $65 million per mile) = $845 million
TOTAL CONSTRUCTION COST: $5.635 billion
INTEREST COSTS:
Based on the issuance of 30-year bonds at 6% interest (coupon paid semi-annually), and assuming straight-line capital depreciation:
Annual interest expense = $150,266,667
TOTAL INTEREST COST: $4.508 billion (over 30 years)
REVENUES:
Based on AADT = 15,000 with 20% large trucks and buses:
$15.00 for cars = (12,000 * $15.00 * 365 days) = $65,700,000 per year $35.00 for trucks = (3,000 * $35.00 * 365 days) = $38,325,000 per year Annual revenue = $104,025,000
TOTAL REVENUE: $3.120 billion (over 30 years)
NOTES:
Average annual daily traffic (AADT) values are based on estimated 2010 levels, and are subject to change over 30 years.
In addition to the capital and interest costs shown here, maintenance and operation costs would be funded from toll revenue.
Freeway construction costs only include costs of new approach freeways, and do not include improvements to existing connecting freeways.
