The multimodal expressway concept proposed in this study involves creating a network of high-occupancy toll (HOT) lanes and managing traffic at greater distances from the congested hot spots to relieve the flow-exacerbating impacts on the hot spots. Modal choices for customers are created along with pricing and parking strategies. HOT lanes would not only serve cars but would also become bus rapid transit lanes. Managers would be able to use real-time pricing, speed controls, modal shifts, and information systems to regulate traffic flows throughout the region. The HOT-lane network would be created by reconfiguring the existing freeway footprint to accommodate new HOT lanes by using a portion of the left and right shoulders and restriping of regular lanes into narrower lanes if needed, along with creation of emergency pull-off areas. To encourage transit, the HOT lanes would have a progressively increasing passenger mile performance measure in a public–private partnership agreement. Sketch-planning analysis is used to assess the potential of this strategy to address funding needs for public–private partnerships for freeway reconstruction in a prototypical large U.S. metropolitan area. Potential public concerns about tolls and ways to address them are also discussed. The results from the case study sketch-planning analysis suggest that revenue from the HOT-lane network, when supplemented with revenue generated through gas taxes and other fees paid by users of the highway network, would be sufficient to pay for the reconstruction of the freeway system in the case study area.