95/395

Virginia DOT says the I-95/395 HOT Lanes concession project will not go to financial close this month as planned because of difficult capital market conditions and the need for more analysis and negotiation of project details. The postponement is officially announced in a 2-page letter from VDOT chief engineer Malcolm Kerley to officials in northern Virginia.

Virginia's transportation commissioner Pierce Homer told us in a telephone interview he's very hopeful that the HOT lanes project on I-395 and I-95 from the Pentagon south toward Fredericksburg will prove viable, but he says it's not a sure thing.