Business performance
Project updates North America
495 Northern Extension Fredericksburg Extension
Project cost (USD) 660M Expected opening 2025
Project cost (USD) 670M Opened 2023
The 495 Express Lanes Northern Extension Project (Project NEXT) is extending our 495 Express Lanes from Virginia towards the Maryland border with new connections at the Dulles Toll Road and George Washington Memorial Parkway. Project NEXT’s four-kilometre extension is expected to reduce peak travel times by up to 25 minutes, and will improve connectivity to key economic hubs, including Tysons and the Dulles Corridor. This year, construction activity increased throughout the project corridor with roadway, bridge, and wall work all progressing. Critical utility relocations are nearing completion, and roadway widening work, including new noise wall installation, is well underway. Project NEXT is also facilitating the introduction of a new bus service connecting Virginia and Maryland, supported by a commitment of USD2.2 million in annual public transit investment from toll revenues. As part of this project, we are also building 6.4 kilometres of new bicycle and pedestrian connections along the project’s corridor.
Opened to traffic in 2023, the 95 Express Lanes’ Fredericksburg Extension (FredEx) created the longest reversible road in the United States. With the 95 Express Lanes now spanning about 66 kilometres – from Washington, D.C. to Fredericksburg, Virginia – this new extension is helping relieve congestion on one of the US’s worst traffic hotspots. The project is estimated to deliver USD1 billion in economic boost through construction and project delivery, as well as more reliable and faster travel times for the many workers in the region, including 28,000 employees at Marine Corps Base Quantico. Construction was completed in June 2024, and the project is working towards a Silver Envision rating for sustainability performance. To date, FredEx has seen 3.8 million trips – around 18% of which were High Occupancy Vehicle trips with three or more people in the vehicle – across one million unique customers. Travelers who choose the Express Lanes for a Fredericksburg–Washington–Fredericksburg round trip save (on average) one-hour 1 of travel time off their daily commute. Travellers using the extension are travelling an average 50 kilometres each trip – about 30 kilometres more than travellers who enter the 95 Express Lanes further north.
1 B ased on travel times in the Express Lanes vs. General Purpose lanes from August 2023 (FredEx tolling commencement) through June 2024, combining AM peak NB (6AM–9AM) and PM peak SB (3PM–7PM), using RITIS congestion data. Individual travel times, alternative trips and travel savings may vary based on specific origin, destination and traffic conditions at the time of travel
See how these projects fit into our portfolio (pages 14–15)
495 Express Lanes, Greater Washington Area
95 Express Lanes, Greater Washington Area
22
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