The Turnpike Authority is moving full steam ahead for the bridge build. From the real estate end, while activity is slow, I am beginning to get an uptick of inquiry from potential Buyers that correlates with more bridge developments. Hopefully we'll see some stability follow. Below is an article coming from Jeff Hampton of the Virginia Pilot:
Board expected to OK building of $659 million span in N.C.
The North Carolina Turnpike Authority board of directors is expected to approve ACS Infrastructure Development to lead construction and operation of the Currituck midcounty bridge when the board meets on Jan. 21.
Next 18 months
ACS, a North American subsidiary of Grupo ACS of Spain, and eight other companies – including engineers, contractors and a toll operator – will contribute to the investment, design and operation of the midcounty bridge. Final plans and an environmental impact statement are expected to be done early next year.
A group headed by ACS Infrastructure Development, a subsidiary of a firm based in Spain, is set to lead construction and operation of the Currituck midcounty bridge.
The North Carolina Turnpike Authority board of directors is expected to approve the company when it meets on Jan. 21, based on staff recommendations, Steve DeWitt, chief engineer with the authority, said this week.
During the next 18 months, the ACS partners - collectively known as Currituck Development Group LLC - and state officials will work out the design and operation of the seven-mile-long toll bridge over the Currituck Sound, DeWitt said. As part of a private-public partnership intended to cut costs and speed up completion, the group is also an investor in the project.
The model follows a pattern often used in Europe, DeWitt said. Traditionally in North Carolina, contractors bid on projects already designed and make no financial investment.
Completion of the Currituck midcounty bridge is on target for 2013 at an estimated cost of $659 million.
The span, to connect Aydlett on the mainland and the Currituck Outer Banks, is expected to save about an hour travel time, bypassing much of the heavy tourist traffic.
Most state and local officials support construction of the bridge, a project first put on the state's transportation project list in 1989. But costs and environmental concerns delayed construction.
Some residents have opposed the project, saying it would increase traffic and congestion on the Outer Banks.
The Turnpike Authority was established in 2002 by the General Assembly to speed up construction of as many as nine highway projects using tolls and partnerships with private firms. Plans for six projects, including the Currituck midcounty bridge, are under way.
ACS Infrastructure Development, a North American subsidiary of Grupo ACS of Spain, and eight other companies - including engineers, contractors and a toll operator - will contribute to the investment, design and operation of the midcounty bridge.
Final plans and an environmental impact statement are expected to be done early next year.
Toll revenues would offset costs. Earlier projections of tolls ranging from $8 to $12 could change, DeWitt said.
