From the Diamond Project website (see link at right sidebar):
The third request for bids for the Diamond Project - Phase 1 (east of 35th Street to San Ildefonso Road) was advertised on December 4. Four bids were received on January 16. On January 30, Council awarded the construction project to AS Horner. Construction should start no later than April 5 with completion in October 2007.
Phase I includes the rehabilitation of existing pavement through mill and inlay; roadway widening to accommodate continuous bike lanes, turning bays, acceleration / deceleration lanes, tapers, side ditches, curb and gutter; reconstruction of the San Ildefonso roundabout; placement of an underpass near Club Road; construction of a multi-use pathway; storm drains and inlet structures; traffic signing and striping; and, new roadway lighting.
I am preparing a blog entry describing the full Diamond project including pictures of the planned road cross-sections, should have it ready by this weekend - please check back!