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Toll and Express Lanes in Northern Virginia will reach every submarket by 2022

  • ​This week the I-66 Inside the Beltway rush-hour Express Lanes opened. The lanes allow single drivers (who were previously banned) to drive in or out of DC during rush hour for a fee, while carpoolers drive for free. The first day’s morning rush-hour toll peaked at $34.50 to drive the full nine miles at 8:40AM and was as low as $4.50 at 5:45AM. The Virginia Department of Transportation (VDOT) will use the revenue garnered from this expansion to fund multimodal projects that provide alternative travel routes. Construction on adding a new lane in each direction will begin in 2018 and open in late 2020.
  • Construction began on November 20th on the I-66 Outside the Beltway project, which will add two Express Lanes in each direction for 22.5 miles by 2022. This project is a public-private partnership between VDOT and I-66 Express Mobility Partners (who is providing all financing for the project).
  • Work is also underway on adding Express Lanes along I-395 up to the DC line by 2019. Over 67 years, Transurban will give $2.7 billion in revenue collected from the tolls to fund local transportation projects in the I-395 and I-95 corridors. Transurban already operates the I-95 (31 miles) and I-495 (14 miles) Express Lanes.
  • The Metropolitan Washington Airports Authority recently released the projected fee increases for the Dulles Toll Road. The fees will increase from $3.50 to $4.75 in 2019 and all the way up to $11.25 in 2043. The tolls are funding construction of the Silver Line, which opened to Tysons and Reston in 2014 and will extend to Herndon, Dulles Airport and Ashburn in 2020.
  • Once all of these projects  are complete in 2022, the network of Toll Roads and Express Lanes will reach every submarket in Northern Virginia. Today, the submarket clusters with the lowest vacancy rates are both located along the oldest Toll or Express lanes in the region (Dulles Toll Road opened in 1984 and the Dulles Greenway opened in 1995). Meanwhile some individual submarkets along the under construction routes have some of the highest vacancy rates in the market (47.7% in the I-395 Corridor and 28.7% in Fairfax Center). ​

Source: JLL Research​

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