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USDOT Announces up to $1.05B Financing for Capital Beltway Express Lanes Construction in Virginia

FAIRFAX COUNTY, VA — The U.S. Department of Transportation announces that the Build America Bureau provided a $1.05-billion low interest loan to Capital Beltway Express, LLC to refinance an existing loan for the Capital Beltway express lanes and construction of a northern extension called the 495 NEXT Project.

There are currently 14 miles of tolled express lanes (two in each direction) on Interstate 495 (Capital Beltway) in Fairfax County, Virginia. The 495 NEXT project will extend the express lanes by 2.5 miles from the Dulles Access Road to the George Washington Memorial Parkway near the state line.

“This multimodal project will ease congestion, keep unwanted traffic out of residential neighborhoods, and connect to future express lanes at the American Legion Bridge, a notorious bottleneck,” said Deputy Transportation Secretary Polly Trottenberg. “The project also includes long-term annual transit investment from toll revenues and will reconnect communities with pedestrian and bike paths as well as two new overpasses.”

The managed lanes are adjacent to free general-purpose lanes between the Springfield Interchange and the Dulles Toll Road and are free to HOV-3 and transit travelers. Expected to be complete in December 2025, 495 NEXT will enhance safety and include transit investments and new pedestrian and bicycle paths.

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