With $1B in hand, Turnpike Authority awards contracts to build North Carolina's first toll road

The North Carolina Turnpike Authority said Wednesday that it had taken possession of $1.01 billion in bond proceeds and federal loans – clearing the way for the NCTA to award the first construction contracts to build the state’s first toll road, the Triangle Expressway.

The authority awarded a $137.5 million contract to S.T. Wooten Corp. of Wilson for the Triangle Parkway segment of the Triangle Expressway, which will run in Wake and Durham counties. The Raleigh-Durham Roadbuilders – a joint venture of Archer Western Construction LTD and Granite Construction Co. ¬– received a $446.5 million contract for the Western Wake Freeway segment.

Right-of-way acquisition and other preparatory work will begin immediately and construction is slated to start in mid-August.

“This begins a new era for funding transportation projects in North Carolina,” David Joyner, executive director of the Turnpike Authority, said in a written statement issued by the authority. “While financing the Triangle Expressway presented unforeseen challenges due to recent credit market events, it reaffirmed our commitment to providing this new form of highway delivery. We are excited about bringing this project to the citizens of our state decades sooner than otherwise possible using conventional funds.”


Based on federal job creation estimates, the state Department of Transportation estimates the Triangle Expressway project will create or preserve 30,000

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