Study: Reston Street Improvements May Cost Millions More Than Estimated

by Karen Goff March 28, 2016 at 11:30 am 16 Comments

Traffic LightAdvocacy group Reston 2020 has taken a hard look at future funding for Reston transportation improvements and found the costs will be tens of millions of dollars more than expected.

A study group, the Reston Network Analysis Group, is currently examining how to implement an urban street grid in the areas around Reston’s transit centers. Grid-style streets will help traffic and pedestrian flow as Reston’s undergoes expected development in the next decades.

In a paper titled “Reston’s Coming Urban Area Transportation Network: An Early Look at the Cost of Streets and Transit in and around Reston’s Station Areas,” Reston 2020 Co-Chair Terry Maynard has found that the network may cost double the $2.6 billion officials estimate.

From the paper:

The overall cost for Reston’s urban transportation improvements will be nearly twice what has been presented to the RNAG over the next 40 years using conservative assumptions of future development and inflation. Developer stakeholders have millions of dollars to gain annually by shifting more of that large financial burden to the “public” rather than placing it upon themselves.

It is imperative that the RNAG, especially the community representatives, ensure that our community is protected from unwarranted and excessive ‘taxation’ for transportation improvements that will average $125 million per year and add several hundred dollars each year to residents’ property tax bills.

The road projects will be built with a combination of public funds, developer proffers and perhaps a special tax on transit-area businesses and residents.

“Reston households could see a property tax increase averaging about $340/year over the next 40 years depending on the scope of the ill-defined “public” contribution and the funding option selected,” says Maynard. “Overall, Reston residents are likely to contribute a half-billion dollars in taxes to the for-profit efforts of Reston’s station area developers if any of funding Options #3-#6 are selected, and in a worst case scenario, they may pay more than more than $1 billion dollars in taxes to finance needed urban transportation improvements.”

See the entire Reston 2020 analysis below.

Reston Urban Road & Transit Improvement Forecast

×

Subscribe to our mailing list