Construction of new Rt. 460 to Start in 2014
By Staff Reports
Oct 17, 2012, 17:01
The construction of the new Rt. 460 from Suffolk to Petersburg is slated to begin in 2014. The project will create an estimated 14,000 new long term jobs, with an economic impact of $7.3 billion by 2020.
The Commonwealth has selected U.S. 460 Mobility Partners to finance, design and build the 55-mile, $1.396 billion stretch of highway. Virginia Department of Transportation will monitor the private team's construction work and operate and maintain the road upon completion.
When the road opens in 2018. tolls for cars will be set at approximately $0.07 per mile for cars and $0.21 per mile for trucks.
“The new Route 460 highway is critical to economic development in this growing region of Virginia. This project is expected to create 4,000 thousand jobs during construction and more than 14,000 long-term jobs when the new road opens,” Gov. Bob McDonnell said in a statement.
In the same statement, Sean T. Connaugton said, “The Commonwealth is partnering with the private sector to achieve the most cost-effective means of delivering this project. Long-term project benefits will far outweigh the investment to build the road. When completed, the new Route 460 will bring much more than transportation improvements. It will also provide a critical link to jobs, commerce, and the military and increased safety. This is positive news not only for southeastern Virginia, but to the entire state.”
In November, VDOT and the Commonwealth Transportation Board will hold a public meeting along the 460 Corridor to explain the project and answer questions.