Gov. Bob McDonnell and various state and Northern Virginia officials held a grand opening Nov. 13 for the I-495 Express Lanes, which open up Nov. 17.
The 495 Express Lanes are two new high occupancy toll (HOT) lanes in each direction on the Virginia side of the Capital Beltway from the Springfield Interchange to just north of the Dulles Toll Road (approximately 14 miles). Construction of the new lanes supported more than 16,000 jobs and generated nearly $3.5 billion of economic impact statewide, according to McDonnell’s office.
“The project not only helped create jobs during construction, but will continue to make Northern Virginia a more attractive place to work and live,” McDonnell said in a prepared statement. “The Express Lanes will open the region for business by providing better access to key employer centers and delivering the infrastructure needed to grow businesses and create additional jobs.”
Funding for the I-495 Express Lanes came through a unique public-private partnership between the state Department of Transportation, the state Department of Rail and Public Transportation, the Federal Highway Administration and Transurban-Fluor. The partnership enabled the commonwealth to “leverage private-sector expertise and introduce new financing tools,” according to the governor’s office.
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