Tennessee Signs Deal for I-24 Choice Lanes Between Nashville and Murfreesboro
Tennessee has reached a major milestone in its plan to add toll lanes along Interstate 24, signing a contract with the private group selected to develop the massive Nashville-to-Murfreesboro project.
The agreement with DriveTN establishes the framework for the consortium to design, build, finance, operate and maintain the new I-24 Southeast Choice Lanes. DriveTN includes Ferrovial, Transurban and Tikehau Star Infra.
What Will Be Built on I-24?
The project calls for two new Choice Lanes in each direction along approximately 26 miles of I-24 between Nashville and I-840 near Murfreesboro.
The existing general-purpose lanes will remain available to drivers without a toll. Motorists who choose to use the new lanes will pay a fee in exchange for what TDOT says is intended to provide faster and more reliable travel times.
The project is aimed at addressing congestion along one of Middle Tennessee's busiest transportation corridors as the Nashville region continues to grow.
A $9.2 Billion Project
DriveTN was selected by the Tennessee Department of Transportation following a competitive procurement process.
The consortium's proposal outlined approximately $9.2 billion in project costs along with a projected $24.8 billion in concession value to Tennessee over the life of the partnership. TDOT has said those funds could potentially support additional transportation projects elsewhere in the state.
DriveTN's responsibilities will extend well beyond construction. Under the public-private partnership, the consortium will also finance, operate and maintain the Choice Lanes.
What Happens Next?
Signing the contract, also referred to as reaching commercial close, is not the final financial step.
DriveTN must now work toward “financial close,” when the project's financing and capital structure will be finalized. Transurban said that milestone is expected by mid-2027.
Ferrovial is the lead member of the consortium, with Transurban and Tikehau Star Infra also participating in the partnership.
Construction of the massive project is expected to take several years once work gets underway.
For Middle Tennessee drivers, the biggest takeaway is that the long-discussed I-24 Choice Lanes project has now moved beyond the selection and negotiation stage and into a formal contractual partnership between Tennessee and DriveTN.
The project would dramatically reshape the I-24 corridor connecting Nashville, Antioch, La Vergne, Smyrna and the Murfreesboro area while keeping the existing interstate lanes available for drivers who do not want to pay to use the Choice Lanes.
