The partial outer beltway when finished will contain 17 interchanges and a new bridge across the
St. Johns River in place of the current two-lane
Shands Bridge.
Funding Funding for the $1.8 billion project will be competitively bid as a public-private partnership (PPP) opportunity for private sector businesses. By using a PPP and innovative contracting solutions, the project will be built years earlier than with traditional contracting methods. The awarded contractor(s) will serve as the concessionaire to design, build, finance, operate and maintain the beltway. The
Florida Department of Transportation (FDOT) is currently engaging private contractors in a competitive bidding process. The
I-595 Corridor Express PPP with I-595 Express LLC was the first of its kind in Florida, opening years ahead of schedule. The beltway is the one of largest public infrastructure projects to be undertaken in Northeast Florida. In early 2011, FDOT abandoned the plan to find a private company to build the entire beltway and just focus on building the 15 mile section between
I-10 and
SR 21 (Blanding Boulevard). This section is partly built and would need flyovers built and widening done for the expressway to be complete. It is expected to cost around $291 million and would be a tollway. In August 2011, FDOT announced that the
Florida's Turnpike Enterprise will be taking on the $291 million project of turning the stretch into a tollway. Construction started on September 10, 2012, and was completed in 2017. Construction on the second phase of the expressway, from SR 21 (Blanding Boulevard) to Green Cove Springs, started in October 2019 and was completed in August 2025. The third and final phase of the project, which includes replacement of the
Shands Bridge, started in May 2023 and will be completed in 2031. Bridge construction started in 2024. Construction on the segment between County Road 16A (CR 16A) to St. Johns Parkway (CR 2209) is expected to start in early 2025, and from St. John's Parkway to I-95 in late 2025.
Tolling All tolls are electronic and compatible with
SunPass used in other parts of the state with no toll booths. There is a free section between US 90 and POW-MIA Memorial Parkway which helps promote growth in the
Cecil Commerce Center, and the future Shands Bridge crossing the
St. Johns River will be free as well. ==Exit list==