Lake Travis - Westlake Edition | November 2022

Finding funding The total cost of all ve projects will be about $500 million. The majority of the funds come from the Capital Area Metropolitan Planning Organization, with about $40 million from the 2016 Austin Mobility Bond.

Breaking up traffic The Loop 360 project may construct a diverging diamond interchange at RM 2244 and Courtyard Drive. In a diverging diamond interchange, drivers make a protected left turn instead of waiting for oncoming trac to clear or for a left-turn signal.

Funds:

Crossing lanes Trac signals

+

=

$40M

$460M

$500M

360

Capital Area Metropolitan Planning Organization

Total Cost

2016 Austin Mobility Bond

Project 2: $58.7M

Project 1: $72.1M

$500M

Other projects: $369.2M

360

SOURCE: TEXAS DEPARTMENT OF TRANSPORTATION COMMUNITY IMPACT

SOURCE: TEXAS DEPARTMENT OF TRANSPORTATION COMMUNITY IMPACT

N

Economic Outlook The Economy, Austin, and 2023 Wednesday, November 16, 2022 JW Marriott - Brazos Hall, Level 2 Street project is complete, the second project is set for Courtyard Drive and RM 2222 just north of the Pennybacker Bridge, with construction planned to start in 2026. Out of the remaining four projects, Courtyard Drive/RM 2222 is the only other loop project that has funding, Wheelis said. For a project to receive funding, it must be “shovel-ready,” Short said. This means a project has gone through a feasibility study where the need is identied, environmental impacts are considered, and the project is pre- sented to the public. After that, utilities in the area must be relocated. Once all those steps are complete, the project is ready for construction, he said. However, funding resources are limited; if another project for a dierent roadway section in Austin is shovel-ready before a Loop 360 project, that project will get priority funding, Wheelis said. Improvements at Courtyard Drive/ RM 2222 include removing the signal on the Courtyard main lanes and replacing it with an underpass where the Loop 360 main lanes go under the cross street. RM 2222 will get a new diverging diamond interchange, or DDI, which works by shifting trac temporarily to

After looking at car volume and dif- ferent scenarios for construction, the Loop 360 study concluded planned projects will reduce peak morning trac to 23.6 minutes for the north- bound loop and 28 minutes for the southbound loop of the entire Loop 360 corridor. Peak evening trac will be 23.1 minutes for the northbound loop and 24 for the southbound loop, Business owners around the Loop 360 construction hotspots had mixed feelings about the project. Cathy Conway, a broker associate for Stanberry & Associates Realtors, has an oce and lives near Loop 360. She said her main concern is that driv- ing around the Pennybacker Bridge is already dicult, because it only has two lanes going in each direction. “In the last ve years that area has become unmanageable,” she said. “What is it going to look like when it’s under construction?” However, Conway said she believes it is a necessary project, and only wishes it had been done years ago. While some residents, such as Con- way, see the need for improvement, the study showed. Impact to residents

others are worried about the impact to businesses and transportation. Caitlin Sansing runs her family’s business, Northwest Hills Pharmacy, in Davenport Village o Loop 360. She said they can oer delivery, but they are concerned about trac times for their drivers. “My biggest concern is for people who will have trouble getting to our pharmacy to get their medication,” Sansing said. “It’s just going to get worse before it gets better.” Anna Bauereis, executive director of Brain Balance, which has a loca- tion o Loop 360, said she did not pay too much attention to trac until her son, 14-year-old Alexei Bauereis, was killed trying to cross the inter- section at Spicewood Springs and Rustic Rock Drive in northwest Austin in 2016. Now, she said her main con- cern is people getting safely to their destination. “There’s just more people on the roads now,” Bauereis said. “I believe TxDOT is doing this [Loop 360 proj- ect] to make the roads less congested and safer for everyone.” Looking to the future After the Westlake Drive/Cedar

the left. This allows through-trac and left-turning trac to proceed through the intersection simultaneously, elim- inating the need for a left-turn arrow. The third and fourth projects at Lakewood Drive/Spicewood Springs Road and MoPac to RM 2244/Bee Caves Road, respectively, are still con- tingent on funding, Wheelis said. Both projects consist of improvements at intersections by removing the trac signals on the Loop 360 main lanes and adding overpasses at Lakewood Drive, Spicewood Springs Road and Walsh Tarlton Lane, as well as under- or overpasses at Lost Creek Boulevard and Westbank Drive. The fth project, Loop 360 at RM 2244, will involve redoing the inter- section. This will likely involve the addition of a diverging diamond inter- change, Short said. The project is still contingent on funding. “We don’t want to sugarcoat this. Anytime we start a construction proj- ect we want folks to know there are going to be trac pattern changes and congestion,” Short said.

For more information, visit communityimpact.com .

Join us for our annual economic forecast, where we’ll share market outlooks and answer your questions. Featured Speakers:

Glenn Hegar - Texas Comptroller Dr. Mark G. Dotzour - Economist Charisse Bodisch - Sr. VP Economic Development Austin Chamber John Garrett - CEO & Founder Community Impact Thomas Schuette - Sr. VP & Investment Grade Credit Research Analyst PIMCO

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LAKE TRAVIS  WESTLAKE EDITION • NOVEMBER 2022

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