The Virginia Department of Transportation (VDOT) is developing a new project designated as the U.S. Route 460 Corridor Improvements Project (Project). The proposed Project was procured in accordance with provisions of the Public-Private Transportation Act of 1995 as amended (PPTA). On December 20, 2012, VDOT reached a commercial and financial close with US 460 Mobility Partners (a partnership of Ferrovial Agroman, S.A. and American Infrastructure) and the Route 460 Funding Corporation of Virginia to finance, design and build the Project.
The Project entails the new construction of approximately 55 miles of four-lane divided limited access highway between Petersburg and Suffolk Virginia. The project will be a tolled facility with these funds being collected and used to pay for Project costs. The toll rates will be around 7 cents per mile for cars and 21 cents per mile for trucks when the road opens in 2018.
The Project will extend from the existing U.S. Route 460 near its interchange with Interstate 295 (I-295) in Prince George County to the U.S. Route 58 bypass just south of the existing U.S. Route 460 in the City of Suffolk. The corridor alignment for this project runs south of the existing U.S. Route 460 for its entirety and has been approved by the Commonwealth Transportation Board. The Final Environmental Impact Study and Record of Decision have been approved by the Federal Highway Administration.
The Project does not include improvements to the existing U.S. Route 460 or other adjacent roadways. The proposed Project includes intermediate interchanges at the following cross roads: