What you need to know
The agency announced it terminated the SH 288 Comprehensive Development Agreement, which will bring operations of the toll road under the state, according to the release. The state has effectively acquired the road, worth $4 billion, for $1.7 billion.
“This type of buyout is unprecedented in the United States and is a very big win for SH 288 drivers and our taxpayers,” TxDOT Executive Director Marc D. Williams said in the release.
Tolling policies will not change in the short-term but officials expect future rates to be reduced and rise at a slower rate under TxDOT, according to the release. Those funds will also help fund ongoing maintenance on the highway.
Officials did not provide any estimate on the timeline of this change or how much tolls could be reduced by.
Stay tuned
As part of the announcement, TxDOT noted they will also begin to build two free general-purpose lanes along portions of Highway 288 between IH 610 and Beltway 8 by no later than 2030, according to the release. The addition will consist of one lane in each direction, thus widening the highway to eight lanes total.
This project will also be paid for using toll revenue, according to the release.
