Slated to begin in 2022, construction on I-495 will extend the expressway in Virginia by two and a half miles, adding connections to both Dulles International Airport and the George Washington Memorial Parkway. With an estimated value of $600 million, the Express Lanes Northern Connection (aka NEXT) is scheduled to open in 2025.
Investing In Multimodal Infrastructure
Leaders at Virginia’s Department of Transportation (VDOT) see NEXT as an important part of the solution to the region’s congestion. According to the press release, the VDOT estimates the project will generate 6,300 jobs and have an economic impact of $880 million. Construction Dive reports:
The 495 NEXT project isn’t just a highway extension — it’s also an investment in critical multimodal infrastructure. As part of the project, Virginia is providing $5.2 million to help launch a new bus service over the American Legion Bridge, and Transurban will provide $2.2 million annually to operate it. The project also includes the construction of bicycle and pedestrian connections along the 495 NEXT corridors…
The state DOT chose Cheshire, Connecticut-based firm Lane Construction to perform the design-build work. Along with the highway extension, plans in the 495 NEXT project include a new Virginia/Maryland bus service, seven bridge replacements and environmental improvements on existing infrastructure, according to the release.
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Building in Northern Virginia?
With Amazon standing up a headquarters in Pentagon City, the action’s building in the Northern Virginia neighborhoods of Crystal City, Pentagon City, and Potomac Yard. Slated for completion in 2023, Amazon’s two 22 story office towers are anticipated to generate a lot more business—and travel—in the region. Accordingly, construction experts report that transit projects funded through public-private partnerships totaling $4 billion are aimed at improving transit in and around the area now referred to as National Landing. The region’s Business Improvement District (BID) has ambitiously envisioned how trains, planes, buses and bikes will connect people—making this “the most connected downtown” in the country.
Hmm! Let’s not count New Jersey out. With a $1.56 billion new rail bridge getting underway, the busy Northeast Corridor line could be moving more people then ever soon. Many developers have their eyes on a wave of interesting construction projects in Newark. In fact, over the past ten years, Newark’s downtown commercial area has gotten a boost from a Nike factory store, Whole Foods—and the headquarters for Amazon’s podcast service-Audible. A $100 million expansion of Beth Israel Medical Center is now underway. So too, however, are a variety of smaller projects, as leaders and residents work together toward vibrant, sustainable communities. Renovated train station? Of course!
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Founded in 1930, Colonial Surety Company is a leading direct seller and writer of surety bonds and insurance products across the USA. Colonial is rated “A Excellent” by A.M. Best Company and U.S. Treasury listed.