Skyway Bridge to cost $971.5 million dollars

[TLT]

News from Raleigh today by the NC Turnpike Authority. The Cape Fear Skyway bridge would cost $971.5 million dollars to build. The toll on the 9.5 mile long bridge would be $1.75, this would pay for 55% of the bridge. That would leave a funding gap of $439 million dollars. One solution mentioned to pay for this might be to toll other roads.

There will be more info in tomorrows Wilmington Star News. I will update info tomorrow.

Update; The newspaper says nothing about how it would fill in the funding gap. It does say according to the PFM Group, financial consultants,"compared to other proposed toll projects in the state, the Skyway looks like a pretty good project". There are six other toll projects proposed in the states. The big thing is getting the first project, the Triangle Express in Wake County, funded this year. If that does not happen, because of sky rocketing construction cost, the other projects will all be in jeopardy.

The project will use electronic ez pass for 75% of the tolls with the other 25% paying cash.

It goes on to say that the area will add 160,000 people and 90,000 jobs in the next 20 years. Considering how the Mem. bridge backs up now during rush hour, our when the bridge goes up for a passing ship, this project or some other alternative is very important for the areas future infrastructure.

[TLT]

UPDATE:The Wilmington Transportation Advisory Committee will ask the general assembly for the money ($439 million, $39 million a year) to fill in the gap for the Skyway project over the next 40 years.This local voice is very important to show local support for the project. The group is made up of city council people and county commissioners from the three counties in the Wilmington Metro Area.Their voice will be added to that of the turnpike authority. Receiving the money will all depend on the funding of the Triangle Expressway which the general assembly will make a decision about in the next few weeks. The cost for that project is $883 million with a spending gap of $18 million a year for the next 40 years. Another solution being discussed may be to toll the part of the outer loop (I-140) that leads to the project from highway 17. The project will be scheduled to open for traffic by 2015.

[pack-man]

i don't believe tolling I-140 will generate any money. not enough volume on that highway and there are alternatives to avoid I-140 if a toll existed. i've come to terms that this bridge will never get built. prices will continue to rise well over $1billion.

[TLT]

i don't believe tolling I-140 will generate any money. not enough volume on that highway and there are alternatives to avoid I-140 if a toll existed. i've come to terms that this bridge will never get built. prices will continue to rise well over $1billion.