Miami Condo Market and Lifestyle Updates
The $1 billion PortMiami Tunnel opening to the public today

The $1 billion PortMiami Tunnel opening to the public today

by Sep Niakan | May 29, 2014

The Miami Access Tunnel, also called PortMiami Tunnel or the Port of Miami Tunnel, officially opened on May 26, and it is now available for traffic on May 29.

The tunnel is a two-way, toll-free passageway that takes commuters and tourists from the MacArthur Causeway to PortMiami.

The goal of the new tunnel system is to reduce the traffic downtown, and allow cruise passengers and cargo trucks to drive easier.

The Port of Miami Tunnel took 55 months to complete, and cost approximately $1 billion to build.

Many public and private lenders funded the project, including a $225 million bond offering approved in May by county officials.

There are currently 16,000 vehicles that travel through downtown Miami during the week, 28% of which are trucks. The tunnel is expected to reduce the traffic through downtown, giving regular drivers the relief they need.

     There will be a $115,000 fine imposed on contractors each day past May 26 that the tunnel is not “substantially”                    complete.

 

Source: therealdeal.com

Photo credit: Tunnel - therealdeal.comTunnel(1) - 305biz.orgTunnel(2) - meridiam.comMap - portofmiamitunnel.com

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