South Carolina says cost to finish I-526 in Charleston triples to $2.3B

CHARLESTON, S.C. — South Carolina’s street company says the associated fee to construct a long-debated completion of the Interstate 526 loop has tripled to greater than $2.3 billion due to rising prices of land and building.

The state’s share of the Mark Clark Extension is capped at $420 million in a 2019 settlement with the Charleston County, that means the county would wish to search out almost $2 billion to finish the venture — six instances greater than it deliberate.

The freeway would begin on the west finish of I-526 in West Ashley, cross on to Johns Island and run again off the island to James Island. It could finish on the James Island Connector.

“This, to me, is an ideal alternative for Charleston County Council to stroll away from this venture,” Jason Crowley of the Coastal Conservation League informed The Put up and Courier of Charleston.

The league has fought the brand new freeway for years, saying it might profit few folks and hurt many.

A big portion of the venture would undergo Charleston. Mayor John Tecklenburg mentioned the I-526 extension is significant.

“Our West Ashley and island residents want and deserve the visitors aid and public security enhancements this venture will deliver,” Tecklenburg mentioned in assertion.

The I-526 extension is separate from one other venture to widen the principally four-lane interstate that hyperlinks Mount Nice to the state port, Interstate 26 and West Ashley. The freeway has been busy due to the Charleston space’s progress.

State officers mentioned it might value round $7 billion to increase I-526 to eight lanes, untangle its intersection with I-26 and construct or increase a number of bridges alongside the route.

For the I-526 extension, the South Carolina Division of Transportation is asking Charleston County to indicate it nonetheless needs to fund the venture, estimating the county would wish to pay about $75 million to prepare for bids.

“I don’t know if persons are going to have an urge for food for it,” mentioned County Council Chair Teddie Pryor. “The place are we going to get the additional cash from?”

The venture’s supporters recommend costs could quickly fall, lowering the price of I-526. Charleston Metro Chamber of Commerce mentioned, although, that additional delays present prices inevitably rise.

“The present value of the venture heightens the necessary want of finishing this effort now,” the chamber mentioned.