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Complete NC 540 Project

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Plutonic Panda:
Great news for this project:


--- Quote --- WASHINGTON – U.S. Transportation Secretary Pete Buttigieg today announced that the U.S. Department of Transportation’s Build America Bureau (the Bureau) has provided
up to $499.5 million to the North Carolina Turnpike Authority (NCTA) for the Complete 540 Phase 1 Project (the Project). The Department provides Transportation Infrastructure Finance and Innovation Act (TIFIA) and other surface transportation infrastructure financing through the Bureau.

As part of COVID-19 relief to borrowers, this loan will replace the current TIFIA loan that the Bureau provided to NCTA for the Project in December 2019. The lower interest rate on the new loan will provide NCTA significant interest cost savings. The loan proceeds will finance part of the construction of the Project, which consists of a 17.1-mile six-lane extension of the existing Triangle Expressway Toll road.

It is the first phase of a larger project to complete the 540 Outer Loop around greater Raleigh area. Once the Loop is fully complete, it will improve mobility for trips and reduce forecasted congestion on the existing roadway network in the Project area with substantial reduction in travel times. It will also provide more route choices for those who live, work or travel though the area.

Procurement of the Project was split into small segments to provide additional participation opportunities for local design and construction industry, and for contractors of various sizes and resources, including disadvantaged business enterprises (DBE) to participate. Approximately $80 million in work is to be provided by DBE. Project construction is already underway and is on budget. NCTA expects to open the Project by July 2023.
--- End quote ---

- https://www.transportation.gov/briefing-room/us-department-transportation-announces-4995-million-loan-north-carolina-turnpike

LM117:
Closures on NC-55 Bypass next week.

https://www.ncdot.gov/news/press-releases/Pages/2021/2021-09-10-temporary-closure-nc-55-540-construction.aspx

tolbs17:
Isn't it funny that the New Bethel Church Road overpass is being replaced for the third time?! LOL!!  :-D :-D :-D

It was first built in 1988, then replaced in 2007, and now it's being replaced again in 2021!!

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