I am afraid the DOT has single-handedly squelched any hopes of a continued real estate recovery in the southern part of Wake County. Due to their rainbow of multiple potential routes for Interstate 540 and the long lead time in reaching a decision, the DOT has increased the one thing that an economic recovery cannot tolerate – uncertainty.
Literally thousands of residents of southern Wake County, who might be impacted by the DOT’s decision on where 540 will go, are now faced with having to disclose the possibility of a six-lane highway near their home if they want to or need to sell their property. Others, like my wife and I, were planning to invest in improvements to their homes but now with the uncertainty of where the highway will go will stop all investment plans.
Uncertainty breeds economic paralysis, and the economic impact of the DOT’s long-term analysis of multiple routes will be staggering to thousands of Wake County residents. Confidence in the future is a fragile commodity most necessary to economic recovery, and the DOT has fractured confidence in the future and our government by not adhering to the original I-540 plan.
James G. Wheeler