5 Huge Infrastructure Endeavors Set To Impact CRE
From NFL stadiums to floating bridges—these massive infrastructure projects could mean big things for US property.
Location: Seattle
Cost: $4.65B
Completion: 2016
This new 7,710-foot bridge across Lake Washington helps connect the tech-boom city of Seattle with the rest of the country. The bridge's opening party was so popular it exceeded capacity—disappointing some locals who couldn't get on the engineering marvel.
Location: Atlanta
Cost: $1.5B
Expected Completion: 2017
The Atlanta Falcons' new Mercedes-Benz stadium started with an initial $950M cost estimate, before rising twice to get to its current level. It could be worth it for Atlanta real estate though, as these types of event infrastructure projects are known to give cities a big economic boost.
Location: Seattle
Cost: $3.1B
Expected Completion: 2018
Another project that will connect the Northwest to the rest of us, this tunnel will take a main northwestern highway underneath downtown Seattle, avoiding the traffic of the Emerald City. The tunnel is being bored by a 57-foot in diameter machine nicknamed Big Bertha.
Location: Panama
Cost: $5.25B
Expected Completion: June 2016
The Panama Canal expansion is one of the largest megaprojects underway, and is expected to impact shipping along the Atlantic coast. The project would nearly triple the size of the ships that could pass through the waterway.
Location: Michigan
Cost: $2.1B
Expected Completion: 2020
This bridge linking Detroit with Ontario promises to be a boost for US trade across the border, giving some much-needed relief to the 85-year-old Ambassador Bridge—which sees around 8,000 trucks daily. Canadians make up one of the largest groups of foreign investors in US real estate, and this bridge gives them a direct pipeline to the rapidly rebounding Detroit real estate market.
