Contract Surety

Winning Bid: Knik-Goose Bay Road


A $55 million highway reconstruction build is set to get underway in Alaska this summer with completion slated for late 2024. Federal funds, administered by the Alaska Department of Transportation, will foot the bill. Granite Construction won the bid.

Congestion and Collisions

Construction Dive reports that the Knik-Goose Bay Road Reconstruction Phase 1 project is roughly 45 miles northeast of Anchorage, near Wasilla, and involves widening  4 miles of the road from two lanes to four. Construction will comprise “drainage improvements, intersection improvements, grading, paving, pathways, illumination and signalization.” As The Alaska Department of Transportation and Public Facilities (DOT&PF) explains, in addition to increasing capacity, the reconstruction is needed for safety:

 The corridor currently experiences congestion, poor performance, and high collision rates, particularly during peak hours, due to limited capacity and a high density of driveway access. Congestion issues are only expected to increase, spurred by development along KGB Road, future land development in the Point MacKenzie area, and large anticipated population growth in the Matanuska-Susitna Valley. This project will add capacity and correct problems created by unconstrained access, thereby improving safety and reducing congestion for roadway users…The project will expand the corridor to a four-lane divided roadway from Centaur Avenue to Vine Road with a separated multi-use pathway on the north side, four-foot inside shoulders and eight-foot outside shoulders. In order to improve safety and reduce congestion, breaks in the median are proposed approximately every half mile to mile.

 Builders of civic projects big and small across the country are going after more bids then ever with The Partnership Account for Contractors® from Colonial Surety. As a direct underwriter of bonds based on the strength of financial statements, we give builders power of attorney to issue their own bid bonds. Plus, we provide a rich array of complimentary services, including: direct access to performance and payment bonds on a customized dashboard; real time tracking of bids and work on hand—and immediate access to Colonial’s lead underwriter as new opportunities emerge.

Start getting in on more action today when you complete the brief pre-qualification for your written surety-line of credit and The Partnership Account® services. Upon completing the prequal you’ll receive, for free, Dun & Bradstreet scores.

Pre-Qualify and Get Free Scores Here.


Fast Track?

As it pursues a “smaller more nimble approach” Granite plans to use it’s own aggregate facilities to provide the materials for the Knik-Goose Bay Road Reconstruction: 5,000 tons of riprap will come from Granite’s Lucas Quarry in Palmer, Alaska; 75,000 tons of hot-mix asphalt from its Palmer Hot Plant; and 650,000 tons of borrow from its Wolf Aggregate facility in Wasilla.

Construction Dive points out that when the construction begins later this summer, the project “will effectively be in its end stages,” since planning began back in 2011 and final design documents have been in development since 2016.


Builders who value speed in all things rely on The Partnership Account® from Colonial Surety. In addition to a surety line of credit—in writing, The Partnership Account®  gives qualified construction companies:


  • Control of bidding and bonding, online and in real time.
    • Powers of attorney to seal and issue their own bid bonds—in minutes.
    • Fast, direct, confidential bid bonds—no middleman.
    • Direct access to performance and payment bonds on a customized dashboard.
    • Real time tracking of bids and work on hand.
    • Immediate access to Colonial’s lead underwriter as new opportunities emerge.
    • A private Owners Dashboard to view surety lines, adjust work and analyze bids.

Learn more and pre-qualify for a Partnership Account® now!


Founded in 1930, Colonial Surety Company is a leading direct seller and writer of surety bonds and insurance products across the USA. Colonial is rated “A Excellent” by A.M. Best Company and U.S. Treasury listed.