Ground Breaking on NC’s First Toll Road
The N.C. Turnpike Authority will broke ground this morning Triangle Expressway in Wake and Durham counties. The ground breaking was held at the far western end of N.C. 540, where the road dead ends at the N.C. 55 exit. The road will coast just over $1 billion, paid for by bond proceeds and federal loans. State Transportation Secretary Gene Conti estimates that the project will create or preserve 30,000 jobs. By the way, NC 540 is the designation given to the Western Wake Parkway. The fact that it’s NC 540 rather than I-540 paves the way for it to become the state’s first toll road.
The expressway is almost 19 miles and comprised of three segments: Western Wake Freeway, Triangle Parkway and the existing N.C. 540 between N.C. 55 and N.C. 54. The parkway is expected to open to traffic in 2011 and the freeway a year later. This is going to really help folks in Holly Springs and areas south of Apex on their commute to RTP. As a long time resident of North Raleigh, I remember our days before I-540. I also recall the incredible boost we had in property values in North Raleigh. The only folks who didn’t get an instant equity position in their real estate values were the ones who ended up with 540 in the backyard.
With that in mind, when purchasing real estate, representation is essential. As respected and professional Raleigh real estate agents, we keep a special watch for future projects that may impact the resale of your property years after you have moved in. Right now, many areas near the new Western Wake Freeway will be real estate hot spots and the Freeman/Davis team can help you select the best places to look…and NOT to look.
Contact The Freeman/Davis Team at www.HomeSearchRALEIGH.com and ask us about the $8,000 first time homebuyer tax credit. Right now is a great time to buy real estate in Raleigh North Carolina and in the surrounding areas.