Friday, July 29, 2011
A new operator is taking control of a South Bay toll road that recently emerged from bankruptcy.
SAN DIEGO The San Diego Association of Governments will pay $345 million to take over operation of the South Bay Expressway. The 10-mile toll road was valued at $287 million when it emerged from bankruptcy in March.
But SANDAG Chair Jerome Stocks said buying the road will save money in the long run and will provide traffic improvements to the area sooner.
"There was a future project that was identified where we would put in a second managed lane in each direction in that same corridor there on the 805. That was projected to cost $688 million," he said. "Instead we can pick up the 125, which serves that very same area, and there’s your four managed lanes."
Stocks said SANDAG expects the number of drivers using the road to increase significantly in the future. Right now about 26,000 cars use the road during the work week The SANDAG Board will decide later whether to continue charging a toll for the road.