Project Completion Projected for Early 2023

Houbolt Road Extension JV, LLC (“HRE-JV”), a joint venture between United Bridge Partners and CenterPoint Properties, entered into a lease agreement with the City of Joliet and commenced construction on the Houbolt Road Extension (“HRE”) Project on March 8, 2021.

The privately financed project involves designing and constructing a new 1.5-mile-long highway extension, including a 0.4-mile-long bridge over the Des Plaines River. HRE-JV will finance, construct, operate, and maintain the bridge while collecting bridge tolls under a 99-year lease agreement with the City of Joliet. The project will provide a direct route between I-80 and CIC-Joliet, and the UP and BNSF Intermodal Facilities.

The project will deliver the following improvements:

• Design and construction of a new four-lane concrete 1.5-mile bridge and roadway, which will be outfitted with an Illinois Toll Highway compatible collection system, including a 0.4-mile bridge over the Des Plaines River with two lanes in each direction and a dedicated pedestrian/bicycle path.
• Turning and merging lanes from Houbolt Road to Schweitzer Road and US Route 6
• A signalized intersection at Vetter and Schweitzer Roads.
• Grading for pedestrian/bicycle path parallel to the new roadway on Houbolt Road.

The State of Illinois and City of Joliet will construct a new diverging diamond interchange at I-80 and Houbolt Road and reconstruct Houbolt Road from I-80 to US Route 6. The construction completion of this public project is expected to align with the expected completion of the HRE Project in 2023.

“On behalf of the City of Joliet, this project has won our support and we’re happy to get it started, as it will be a big step forward to mitigating truck traffic on local roads,” said Bob O’Dekirk, Mayor of Joliet.

“We are excited to commence construction on the HRE Project. As the CenterPoint Intermodal Center has continued to grow and expand, we have focused our attention on finding innovative solutions for local infrastructure, improving truck traffic flow, enhancing safety and reducing congestion in and around the Business Park,” said Michael Murphy, CenterPoint Properties’ Chief Development Officer.

The privately funded project will create an alternative route from I-80 into the CenterPoint IntermodalCenter (“CIC”). The new route provides direct access to I-80, rerouting truck traffic off local roads like Route 53, returning these roads to the residents and surrounding communities for their daily use, absent the congestion. The project, on the southern extension of Houbolt Road over the Des Plaines River, will be paid for, operated, and maintained by HRE-JV.

“We are thrilled about this next phase of the Houbolt Road Extension. It takes all of us even closer to delivering greater safety, efficiency, and prosperity for the City of Joliet and its surrounding areas,” said Doug Witt, President and CEO of United Bridge Partners. “United Bridge Partners builds bridges that enhance great communities, and we look forward to the many positive contributions this project will provide the City of Joliet for years to come.”

The HRE-JV selected the Granite / Kraemer – A Joint Venture (“GK-JV”) team as the Engineering, Procurement and Construction (“EPC”) contractor through a best value procurement process to complete the Houbolt Road Extension project. Burns & McDonnell, a team member of GK-JV, has completed the design for the project’s bridge and roadway.

“The Houbolt Road Extension represents the shared commitment to the community on behalf of local and state agencies, local businesses, organizations and industry leaders. I commend the HRE-JV for their dedication to advance this project. It’s relationships like this that help alleviate truck traffic and I was happy to sponsor needed legislation for this when I was in the Senate,” said Will County Executive, Jennifer Bertino-Tarrant.

For more information and project updates, visit www.houboltroadextension.com.

About CenterPoint Properties:

CenterPoint Properties is focused on developing, acquiring and managing industrial property andtransportation infrastructure enhancing supply chain efficiency. The Company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. For more information on CenterPoint Properties, visit centerpoint.com or follow @centerpointprop on Twitter.

About United Bridge Partners:

United Bridge Partners is a pure play private bridge financing, construction, operations, and maintenance company in the United States. The Company believes in investing in the communities in which they operate, through job creation with local labor and local materials, through contributions to local charities and businesses, and by building and operating their projects with the highest environmental standards. For more information visit www.unitedbridgepartners.com.