Traffic, revenues down for Port Mann since tolls

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SURREY (NEWS1130) – Revenues have come up short and some traffic has diverted to other crossings but there is zero consideration to lower tolls on the new Port Mann Bridge.  Despite all that the Transportation Minister is confident the bridge will be paid off on time.

Todd Stone claims over the past year there haven’t been many drivers that have diverted to other bridges like the Pattullo Bridge, but if they have it’s because they’re still trying to figure out their new commute.

“There has been no mass diversion of traffic — truck or otherwise — from the Port Mann Bridge to the Pattullo Bridge.  In fact, truck traffic is up on all crossings and this would point to a healthy, growing, vibrant economy which is reflected in part by an increase in the volume of goods movement.”

He adds those claims have been a little exaggerated.

“People, I think, are still sorting out their travel patterns.  There is always a dip that takes place when the full toll is in place, so in the case of the Port Mann — all those benefits are now in place.  And what we’ve seen in other jurisdictions is a three to four month period where the volumes may dip a little bit and that is certainly consistent with the Port Mann experience, but we expect that those numbers will bounce back.”

Stone continues to tout the new crossing, adding drivers are saving a lot of time.

Meantime, the company that runs the Port Mann, the TI Corp., has lowered its revenue estimates for the next three years, but it says it’s still on track to meet its financial goals.

“TI Corp. and the Port Mann/Highway 1 Project are meeting their commitments to drivers and taxpayers.  We are delivering the time savings we committed to when planning began a decade ago, and we are ensuring that we remain self-sufficient by meeting our financial obligation to retire the project debt on schedule,” says company CEO Mike Proudfoot.

The bridge is supposed to be fully paid off by 2050.

If you’d like to watch the old Port Mann be dismantled you can go to Maquabeak Park in Coquitlam.  Crews will continue to take it apart this weekend.

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