AECOM was engaged to review the traffic and revenue forecasts for Provincial Highway 407 in Toronto, Canada.
Highway 407 is an Express Toll Route (ETR), meaning that it tolls vehicles automatically, saving both valuable land and time. 407 begins at the junction of the Queen Elizabeth Way and Highway 403 in Burlington, and travels east to Highway 7 and Durham Regional Road 1.
Confirmed by actual traffic outcomes, AECOM’s report to equity participants predicted substantially higher traffic volumes than earlier studies. AECOM subsequently updated its advice on traffic and revenue, preparing forecasts for the client’s acquisition of a 40 percent share in CINTRA, the principal owner of the 407 ETR.
For the ongoing financial and operational management of the asset, AECOM has:
- Completed a due diligence review in 2001, which resulted in Macquarie acquiring a large stake in the 407 ETR.
- Developed a model used for forecasting traffic and revenue that enabled different tolling scenarios to be tested to estimate the impact on revenue of different tolling structures.
- Provided annual revenue forecasts, and will continue until 2054, for a number of different tolling strategies that were used to revalue the asset for reporting in the financial statements and to determine an optimal tolling strategy.
- Conducted a monthly breakdown of traffic and revenue forecasts for the upcoming calendar year, while completing a variance analysis on the previous year’s forecasts.
- Completed a second due diligence review of the toll road in July 2004, in preparation for Macquarie Infrastructure Group (MIG) selling off part of its share in the highway.
- Prepared, on an irregular basis, advice on the impacts of adverse events affecting traffic flows on the 407 ETR.
AECOM provided Construction Administration services for this project to rehabilitate structures and pavement from Avenue Road easterly to Leslie Street in Toronto, Ontario. Five structures were rehabilitated on this project. In addition to the considerable bridge work, retaining walls and noise barrier were also extensively rehabilitated or replaced entirely, depending on their existing condition. Pavement repairs included full depth asphalt removal, repair of concrete base with conventional concrete or fast track concrete depending on the project stage and traffic configuration, and re-paving to surface course asphalt. This project was located in a very politically-sensitive stretch of Highway 401, and involved much communication with adjacent property owners and local stakeholders. Maintaining public traffic was a significant goal of the project team and was successfully undertaken on this assignment.
As part of the Triennial Architectural Service Contract, AECOM carried out design and general construction review for the removal and replacement of the Wilson Bus Garage roof. Due to the size (25,000 m2) and complexity of the roof makeup, AECOM teamed with R. Kendall Roofing Consultants, to provide specialized roofing consulting services.
AECOM’ analysis of the existing roof revealed that the entire roofing system required replacement down to the deck substrate. The Toronto Transit Commission (TTC) also requested that the roof design be modified to improve roof drainage by designing the replacement roof with positive slopes to the roof drains. In order to maintain the TTC’s standard roofing requirement for a minimum 300 mm distance of HVAC equipment from the finished roof surface, and because the facility cannot be shut down at any time, AECOM staged the roofing work around the busy operational schedule of this bus garage.