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CBRE: Transportation is Challenge for Future Growth of Texas Triangle Markets

HOUSTON – The Texas Department of Transportation has announced a $1.3 billion plan to relieve traffic congestion in the metropolitan areas of Texas.

Texas Triangle – outlined by the Dallas/Fort Worth, Austin, San Antonio and Houston MSA – has 97 percent of the state’s most congested roads, according to a report from CBRE Research.

CBRE Research reported: “Houston will receive the most, $443.3 million, which will re-address the U.S. 59/Loop 610 interchange near the Galleria. In addition, construction on Houston’s massive 180-mile Grand Parkway is ongoing; when finished, total cost of all sections will be $4.7 billion. Meanwhile, the costliest project in the state is allocated to parts of I-35 and U.S. 67 in Dallas. Austin is set to receive $158.6 million to ease traffic on I-35.”

By 2040, Texas will have 18 million more cars of the road as the state gains population, CBRE reported.

But the traffic is already an economic drain on the state. Texas drivers in the five largest metro areas lose roughly 52 hours and $1,200 each year due to traffic congestion, according to Texas Transportation Institute’s 2015 Urban Mobility Scorecard.

Feb. 4, 2016

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