Chisholm Trail Parkway is a toll road

Toll road

A toll road is a privately or publicly built road for which a driver pays a toll for use. Structures for which tolls are charged include toll bridges and toll tunnels. Non-toll roads are financed using other sources of revenue, most typically fuel tax or general tax funds...

 planned to be operated by the North Texas Tollway Authority (NTTA)

North Texas Tollway Authority

The North Texas Tollway Authority maintains and operates toll roads, bridges and tunnels in the North Texas area. Functioning as a political subdivision of the State of Texas under Chapter 366 of the Transportation Code, the NTTA is empowered to acquire, construct, maintain, repair and operate...

 in Tarrant

Tarrant County, Texas

Tarrant County is a county located in the U.S. state of Texas. As of the 2010 U.S. Census, it had a population of 1,809,034. Its county seat is Fort Worth. Tarrant County is the sixteenth most populous county in the United States and the third most populous in Texas. The county is named in honor...

 and Johnson

Johnson County, Texas

As of the census of 2000, there were 126,811 people, 43,636 households, and 34,428 families residing in the county. The population density was 174 people per square mile . There were 46,269 housing units at an average density of 63 per square mile...

 counties connecting the central business district of the city of Fort Worth

Fort Worth, Texas

Fort Worth is the 16th-largest city in the United States of America and the fifth-largest city in the state of Texas. Located in North Central Texas, just southeast of the Texas Panhandle, the city is a cultural gateway into the American West and covers nearly in Tarrant, Parker, Denton, and...

 at to .

The project is proposed to be constructed as a 27.6 miles (44.4 km), controlled-access, four- to six-lane divided toll road along the route of an extension of State Highway 121

State Highway 121 (Texas)

State Highway 121, locally known as 121 or the Sam Rayburn Tollway, is a diagonal state highway, angling from southwest to northeast through north central Texas. It runs from downtown Fort Worth, Texas at the junction of Interstate 35W to Bonham, Texas, just north of a junction with U.S...

. Environmental clearance for the project was received in June 2005. Initial construction began in April 2010. Chisholm Trail Parkway is tentatively scheduled to be open to traffic in early 2014. The NTTA's consulting engineers have estimated that the cost of the Chisholm Trail Parkway will be approximately $1.4 billion.
The segment of the parkway from to I-30 in Tarrant County was originally named Southwest Parkway. Legislation renaming that segment was passed in May 2011.