540 Extension Still Undecided

Local subdivisions & communities have a lot to gain or lose as it was recently announced the 540 extension south of Kildaire Farm Road and Holly Springs Road has not yet been fully determined.

We as real estate agents have been told to regularly check the NC Turnpike Authority site for the latest information on where the the extension would go south of its NC 55 intersection on to the Knightdale 264 intersection.

Home sales in subdivisions such as Jamison Park have suffered the last couple of years as the prevailing map and thought had the extension going very near the homes which can sell anywhere from $500,000 to $1,000,000.  The uncertainty was too much for many prospective home buyers.

However, not even a week ago the NC Turnpike sent letters to many homeowner stating that the location was still undecided and that there were a few alternative routes that were being studied and they wanted the local communities input.  Some of us are skeptical if the decision has already been made but we are being told our input will be considered?

I bought my townhome in Scot’s Laurel subdivision in Apex, NC knowing that 540 could be very close but it was an educated decision and I was aware of the risk.  Now it may be farther away which is a good thing for my family but no so much for others.

Sunset Oaks would have homes torn down on one of the proposed routes causing a definite uproar in that subdivision as they bought their homes knowing where 540 was suppose to go.  They had done their due diligence and are now being told that may not have been right.

We will definitely be hearing more over the next month or two as 540 and its southern location is being discussed.

For more information and to see the latest maps visit:

http://www.ncturnpike.org/projects/southeast/documents.asp

http://www.ncturnpike.org/

About RaleighCary

George Wilson is owner and Broker in Charge of Raleigh Cary Realty, an independent Real Estate firm headquartered in Cary , North Carolina. "In 2008, I was working for a big national Real Estate company. A client of mine who I'd just helped purchase a home two months before got laid off from his job and wanted to quickly list her home. When I charged the client less to help her out, the firm was very upset with my decision. I opened Raleigh Cary Realty shortly thereafter, with a vision that we'd always have the flexibility to do the right thing for our clients, no matter what." -George Wilson

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