The Government of Canada has announced that it will help fund the North Commuter Parkway and Traffic Bridge Replacement PPP project in Saskatoon (Saskatchewan, Canada).
The Government, through the P3 Canada Fund, will provide an investment of up to CAD$66 million for the project. The Province of Saskatchewan will contribute with a total investment of CAD$50 million. The project cost is estimated at CAD$250 million.
The project will be developed on a design, build, finance, operation and maintenance (DBFOM) basis. It involves the replacement of the 107-year-old Traffic Bridge in the City's downtown core, the development of a new bridge crossing in the City's north end, as well as connecting roadways.
The proposed North Commuter Parkway is a key component of the The Integrated Growth Plan (IGP) adopted by the City Council in June 2012, which outlines a transit, land use, roadway, and water and sewer servicing strategy for the growth of Saskatoon to a population for 500,000 people.
Formerly called the "North Commuter Bridge", the North Commuter Parkway PPP project will link the Marquis Industrial area with the University Heights area, by extending Marquis Drive across the South Saskatchewan River and connecting to McOrmond Drive at Fedoruk Drive.
In last March we published that the city of Saskatoon had launched three tender processes to hire a legal, a financial and a fairness advisor for the procurement process of the project.