While we knew the announcement was coming a few days in advance, Friday was the day that the New International Trade Crossing bridge became a bit more official. And while we are not number crunchers here at Curbed, the financing looks interesting and seems to have dominated the conversation. So while we wait for the head honchos to get down to the more important Curbed concerns—official renderings and official naming—we are left wondering who is going to build the thing. Here is the deal:
A private contractor will be selected to build and operate the bridge and toll plazas and will need to raise $1 billion for construction. The entire project is expected to cost around $2 billion.Canada will pay for Michigan’s $550 million Customs facilities and U.S.-side freeway connections. Michigan will reimburse Canada through its share of toll revenues.
· Canada and Michigan make it official: New bridge ends 10-year effort [Crain's]
· Now, NITC backers have their own TV ad [Freep]
· Tom Walsh: Nice gift, but bridge deal needs vigilant follow-up [Freep]
· The Border Cities' Bridge To The Future [Deadline Detroit]
· Behold! Your New International Bridge Location Mapped [Curbed Detroit]
· Crain's Learns The Guv Will Announce New Detroit River Bridge [Curbed Detroit]