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Old 02-18-2010, 04:11 PM
 
Location: Piedmont NC
4,597 posts, read 7,502,231 times
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Quote:
Originally Posted by MikeJaquish View Post
Has anyone ever hit the initial opening date on a large highway project?
Now, I'd like for someone to answer that, too, Mr. Jake-Wish.

People, here where I live, are putting their houses on the market like mad (towards the back end of the neighborhood), and I'd like to think they aren't all trying to sell due to I-540.
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Old 02-18-2010, 04:42 PM
 
325 posts, read 528,682 times
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Uh, oh, I saw where it goes right over the house of soemone I know (their name was listed, not a subdivision). Hope they pay them a lot of money; they have a nice brick home!
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Old 02-18-2010, 06:26 PM
 
1,832 posts, read 3,043,546 times
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Did anyone else see the house with all the Christmas lights this season that had a big sign in front that said "last year thanks to 540"? It was a very pretty/nice house, seemed well cared for. I am guessing 540 is knocking it down?
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Old 02-18-2010, 09:55 PM
 
Location: Wake Forest
2,688 posts, read 4,674,596 times
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Quote:
Originally Posted by MikeJaquish View Post
As these things go, you may well have 15 years.
Has anyone ever hit the initial opening date on a large highway project?
MikeJ, I believe the answer to your question is; the only thing hit on the projected initial opening date of a large highway project is the barricades that say, "Road Closed".
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Old 02-18-2010, 09:56 PM
Status: "Apple Pie!" (set 9 days ago)
 
Location: Cary, NC
19,569 posts, read 31,041,557 times
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Quote:
Originally Posted by dansdrive View Post
MikeJ, I believe the answer to your question is; the only thing hit on the projected initial opening date of a large highway project is the barricades that say, "Road Closed".
Well, Dan...

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Old 02-21-2010, 02:25 PM
 
4,895 posts, read 10,335,190 times
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Thanks for posting these links Mike. I sent it to my neighbors as well.

Based on your professional experience, would you expect home prices to increase along this corridor after the new road goes in, or decrease? My wife saw this video and immediately wants to move. . . . . .well. . . in the next 5-6 years. She says that it will lower the value of our home and we should get out now before it reaches our neighborhood. I say that is will spur development in that area and make it easier to get to other parts of the Triangle, thereby increasing property values. Personally, neither of us wants a freeway in our backyard, so we would move. . . . . .but would it bother other people? Afterall, there are LOTS of people who buy houses in Morrisville and claim "We cain't hear them planes at all."

Our house peeks out from behind the "Legend" at time 2:33 on the High Res video, less than 1/4 mile from the proposed corridor. In fact, as I said in a previous post, you can see me waving from the back patio
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Old 02-21-2010, 04:35 PM
Status: "Apple Pie!" (set 9 days ago)
 
Location: Cary, NC
19,569 posts, read 31,041,557 times
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Quote:
Originally Posted by NewUser View Post
Thanks for posting these links Mike. I sent it to my neighbors as well.

Based on your professional experience, would you expect home prices to increase along this corridor after the new road goes in, or decrease? My wife saw this video and immediately wants to move. . . . . .well. . . in the next 5-6 years. She says that it will lower the value of our home and we should get out now before it reaches our neighborhood. I say that is will spur development in that area and make it easier to get to other parts of the Triangle, thereby increasing property values. Personally, neither of us wants a freeway in our backyard, so we would move. . . . . .but would it bother other people? Afterall, there are LOTS of people who buy houses in Morrisville and claim "We cain't hear them planes at all."

Our house peeks out from behind the "Legend" at time 2:33 on the High Res video, less than 1/4 mile from the proposed corridor. In fact, as I said in a previous post, you can see me waving from the back patio
I think you would not look for a price benefit from the road.

Maybe a minor adjustment down, but I know a lot of people in Jamison Park and Park at Langston, among others, would give their eyeteeth to be a 1/4 mile away from the proposed path of the highway.

One set of considerations is whether you are above or below highway level, have line of sight visual to the highway, a sound wall, and woods.
I.e., how much noise will reach you?
And final design that will clarify is years away.

And, since DOT has been quietly accumulating land for years, or not so quietly, the presence of the freeway is already being priced in, and the corridor is getting narrowed and established by further development that would make land acquisitioin exceedingly expensive.
Look at the slender piece of land, just north of this parcel, that approaches the NW quadrant of 401 at Donnybrook, that has no owner in the tax records.
You just know the freeway is going through there.
So, it is swinging south after it passes you.

I helped folks get into Westbury Manor last year. They were worried about 540, but seeing how far south of Ridgebrook Bluffs the path is proposed helps me relax a little.
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Old 02-22-2010, 08:36 AM
 
131 posts, read 191,427 times
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I think it's ok to be close, but not too close. Just this weekend we were walking the path over the pedestrian bridge over US-1 in Cary. It's very loud when you're over and right next to the road.

When we were looking at houses 5 years ago I avoided several neighborhoods that were next to the planned path of 540 (the route as shown was published at that time.)

So you have to consider that anyone looking at your house, even now, will know about 540 and factor that into the price. Even if you sell to someone who will plan to sell themselves in only a few years, they will still be taking discount on the price because they know they will have a harder time selling.

If you are maybe a mile or more away I would think that access to 540 would improve your property value a bit.

I am 1-2 miles from the path, and while I look forward to the access to 540, because of my location I'm worried that some developer will decide that my quiet neighborhood (or the one right behind us) will be the ideal location for a Wal Mart once 540 is built.

flamtap
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Old 02-22-2010, 08:47 AM
DPK
 
1,033 posts, read 1,250,655 times
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Quote:
Originally Posted by MikeJaquish View Post
Look at the slender piece of land, just north of this parcel, that approaches the NW quadrant of 401 at Donnybrook, that has no owner in the tax records.
You just know the freeway is going through there.
What makes it more obvious is if you zoom out and look north of that property, the NCDOT owns a giant 18.5 acre tract of land.
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Old 02-22-2010, 09:22 AM
Status: "Apple Pie!" (set 9 days ago)
 
Location: Cary, NC
19,569 posts, read 31,041,557 times
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Quote:
Originally Posted by DPK View Post
What makes it more obvious is if you zoom out and look north of that property, the NCDOT owns a giant 18.5 acre tract of land.
I have a hunch that 18.433 acres will be a staging area for construction equipment and materials, particularly considering a large interchange likely for 401/540.

And DOT doesn't own that parcel. They own a right of way.

Right of way deed, and I would love to see the map, but it appears not to be recorded.
Cost of right of way on 14.26 acres? $1.3 million and change.
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