Need advice-looking at home near proposed: I540 (Raleigh, Dallas: for sale, 2013)

[scooby55]

Hello-

My husband and I are looking to buy a home and are looking in the 27603 zip code-specifically Laneridge subdivision. Real nice neighborhood and we found a home we are seriously considering. OK- here is the problem-I-540 is proposed to run behind the property we are looking at. Is there any way of finding out how far this may be from the house? I cannot seem to find anything very specific on the internet and I am skeptical because I hear so many things about when/if this may even come to fruition. I have also noticed there are a few homes for sale in this neighborhood and wonder if people are selling because of I-540.

Any information from anyone will be really helpful-
Thanks

[SFspiderman]

Don't know if you've seen this map, which shows the "Protected Corridor" running right above the northern edge of Laneridge. I don't know that there's anything more specific available at this time, as they haven't really done the full engineering plan yet.

AFAIK, the Southern Wake Freeway is still not much more than a pipe dream, so it's impossible to say when it might be built.

[NewUser]

Originally Posted by SFspiderman

AFAIK, the Southern Wake Freeway is still not much more than a pipe dream, so it's impossible to say when it might be built.

That was my feeling too when I bought a house 2 years ago that is within 1/3 of a mile of the "protected corridor" in Southern Wake. And besides, I had a house in Dallas where a toll road was built within a 1/4 mile of my front door and the property value INCREASED.

[Janecj]

Originally Posted by scooby55

Hello-

My husband and I are looking to buy a home and are looking in the 27603 zip code-specifically Laneridge subdivision. Real nice neighborhood and we found a home we are seriously considering. OK- here is the problem-I-540 is proposed to run behind the property we are looking at. Is there any way of finding out how far this may be from the house? I cannot seem to find anything very specific on the internet and I am skeptical because I hear so many things about when/if this may even come to fruition. I have also noticed there are a few homes for sale in this neighborhood and wonder if people are selling because of I-540.

Any information from anyone will be really helpful-
Thanks

I looked into this back in 2007 at a home not far from where you are looking. Here is the response I received from DOT. Don't know if it will help you any. The largest fear for people is the "unknown".

Sent By: Contact Us AdministratorDate/Time: 10/18/2007 9:22:07 AM Comment:
We have just started the environmental document for that portion of I-540 and it will be several years before we know where the road will be going. All we know at this time is that it will be within the red dashed line of the study area shown on the project web site at NCDOT: I-540 Raleigh Outer Loop. The protected corridor shown within the study area is just one possibility; several others will be looked at as the document is written. I think you were refering to the protected corridor in your email.
Currently Right of Way and Construction are unfunded and listed as “beyond 2013”.
Regards
Vince Rhea
Project Planning Engineer

[kbmnola]

You can call the toll-free hotline for the project (1-800-554-7849) during business hours. Someone there can look up the location of your property in relation to the protected corridor.

Southern Wake Expressway will almost certainly be a NC Turnpike Authority project. If the environmental study is completed by NCTA, it will be on a much faster schedule than the typical NCDOT project. Right-of-way aquisition and construction on Western Wake Expressway are supposed to start soon and it is likely that once it does, the environmental study for Southern Wake will start.

[scooby55]

Thanks for all the information everyone has given me.
My husband and I got some more information today and it is better than we thought.

We are still very interested in the house and will do some more research. On the other hand, many people we have spoken to feel it will increase property value.

Ahhh...if I only had a crystal ball