TOLEDO (WTOL) - Driving between Airport Highway and Central Avenue on I-475 will soon be different, and those changes have been a long time coming.

Since 2001, the entire Greater Toledo area agreed that another interchange on I-475 was needed between Airport highway and Central Avenue.

Now, thanks in part to an unprecedented public/private partnership, it is finally happening.

On Wednesday, representatives from Springfield township, Lucas County and ODOT District 2 signed a financial agreement to fund a $40 million project that will widen I-475, install a roundabout at Dorr and McCord, and most importantly, install a brand new interchange for I-475 at Dorr Street.

The key to getting this project funded was Springfield township partnering with a developing company named Kott Enterprises who will be building a new commercial development on the West side of the new interchange.

Along with developing the prime real estate, Kott Enterprises also agreed to pay for half of the 9 to 10 million dollars that Springfield township has promised to pay for the construction here.

It’s work that will completely revitalize traffic in this area that almost wasn’t going to happen after the city of Toledo, under the administration of former mayor Paula Hicks-Hudson, backed out a few years ago.

“You know, the City of Toledo originally backed out, the University of Toledo backed out of their commitment for funding. If we didn’t kick in the funding, this was going to die on the vine. And obviously seeing the huge economical impact that this could have, we couldn’t pass it up," said Michael Kott of Kott Enterprises.

“The economic development that this is going to bring to our area is going to benefit the township, the schools system, the village of Holland is going to get some benefit out of this -- there’s some more agreements that are going to come our from this later, but this truly is going to be a project that benefits the entire Springfield township community,” said Springfield Township Trustee Andy Glenn.

The project will sell in September of 2019, with construction beginning Spring of 2020 and slated to be complete in 2021