SAN DIEGO — The future of toll roads in California lies largely in managed lane projects, according to participants at a conference here this week.

The risks of financing a new “greenfield” toll road are so great that most toll development in the state will be in the form of “brownfield” projects that add toll lanes to boost capacity on existing freeways, according to Greg Hulsizer, chief executive officer of the South Bay Expressway. He spoke at a panel discussion at the annual meeting of the International Bridge, Tunnel and Turnpike Association.

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