How is this project funded?
The Apex Peakway Southwest Connector is partially funded by each of the following:
- 2015 Transportation Bond - Provided funding for design, permitting, utility relocation and right of way acquisition.
- 2021 Streets and Sidewalks Bond - Provides the extra funds needed for construction, including the construction agreement with CSXT, Town utility work, construction management, and inspections.
- Federal Funding - A total of up to $12.5 million in federal funds have been awarded as a 50% matching grant toward construction of the Peakway project, lowering the town's overall cost. The Town must comply with all federal and state requirements to be eligible for reimbursement.
When is start of construction?
The CSXT Construction Agreement approved by Town Council in August 2023 is the last remaining item required to be signed by CSXT before the Town can request Construction Authorization from NCDOT/FHWA. There are several steps, including contract approval and utility relocation, that are happening concurrently for construction to start in early 2024.
What is the current anticipated finish timeframe?
From start of construction to final NCDOT approval, the project is expected to take up to three years to construct, anticipated to finish in early 2027.