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The clarity offered by completion of the highway and ability to easier gauge its impact will give many people more comfort to buy in the area.
Whether that will qualify as rapid growth is up for grabs.
I'd like to get some thoughts on the I-540 extension, and how it might impact western wake county.
What do you think it will do to real estate in that area? Will it cause an increase, or decrease? Will there be no impact to real estate costs?
What are your thoughts about how it will impact growth to the local economy in that area?
^^^^^^^^ If your house is under or up against the extension your value may decrease. If your house is 1 to 3 miles away your value may increase. There is already a lot of growth happening and I can only assume easier access to the west will only increase that growth. I am in Fapex (the most eastern part of 27539) and the extension may be as close as 1 to 1.5 miles away. That may increase the value which means I may pay more in taxes. I don't see that as a benefit.
I hope it will for me I will be about a mile from 540 off Kelly Rd. We don't plan to move but at least in 10 years it will have gone up some to help when I do look to sell. I feel for the homes where it will be in their backyard. The noise and vibration will be annoying.
Towns like Apex, Holly Springs and Fuquay Varina will flourish with the 540 extension. it will make the commute to RTP so much quicker and easier as bottlenecks are eliminated from the current journey. As a consequence more development will inevitably take place there to meet the demand. It will be interesting how the City Managers at Fuquay and Holly Springs respond to the growth as their current infrastructure is inadequate. Real estate prices most likely will increase as the area becomes more popular with the better transportation. That's what usually happens when either a new highway or rail route is built.
Towns like Apex, Holly Springs and Fuquay Varina will flourish with the 540 extension. it will make the commute to RTP so much quicker and easier as bottlenecks are eliminated from the current journey. As a consequence more development will inevitably take place there to meet the demand. It will be interesting how the City Managers at Fuquay and Holly Springs respond to the growth as their current infrastructure is inadequate. Real estate prices most likely will increase as the area becomes more popular with the better transportation. That's what usually happens when either a new highway or rail route is built.
... and then it will cost the same amount of money (adjusted for inflation) to live X commuting minutes away from RTP as it does now, as developers take advantage of the highway to sprawl further out and create more and more residences near its route. Commuters living closer will have a speedier route for a while, until the population follows the highway and the new road clogs up.
The rapid growth has been coming to Western Wake for some time. Developers have been buying up and planning for years. Some of this was because of the planned route of 540 (and please note that it is NC-540, not I-540 in this neck of the woods now), but much was just natural because the land was close to RTP and was the only place to grow for towns like Cary and Apex, which have both been growing for years. If things had stalled with 540, most of the development would have happened anyway. IMO.
It is going to be very interesting to see how many people end up using the toll roads around here. A big change to the area.
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I will be about a mile from 540 off Kelly Rd. We don't plan to move but at least in 10 years it will have gone up some to help when I do look to sell. I feel for the homes where it will be in their backyard. The noise and vibration will be annoying.
