The 'new' highway referred to in the Money article is a new re-routing of current Highway 212 from Eden Prairie to Chaska. The new section of Highway 212 is currently called Highway 312 and I do not know what the old Highway 212 will be called. Depending on the direction of your commute, the new Highway 212 segment will likely help you get to Eden Prairie faster, but you will still need to use Interstate 494, Highway 62, or Highway 169 to get out of Eden Prairie, which are the main sources of congestion in the area.
Here is more information on Highway 212 construction:
HWY 212 Project Home - Minnesota Dept. of Transportation.