NCDOT and NCTA awarded the nearly $450 million contract to Flatiron-Fred Smith Company Joint Venture. This contract will construct a 70 mph (posted) six-lane all-electronic toll facility to extend the Triangle Expressway from south of Rock Quarry Road to Interstate 87/U.S. 64/U.S. 264.
The second phase of the Complete 540 Project provides the missing link to complete the 540 loop around the greater Raleigh area. The first phase of the project, scheduled to open to traffic in late spring of 2024, will extend the Triangle Expressway 18 miles from N.C. 55 to I-40. To complete the loop, the second phase of Complete 540 will extend the Triangle Expressway an additional 10 miles from I-40 to existing I-540 at I-87/U.S. 64/U.S. 264 in Knightdale.
The second and final contract for the second phase of Complete 540 is expected to be awarded and signed later this year. Construction for the second phase of Complete 540 could begin as early as 2024, and the project is expected to open to traffic in 2028.