Have you heard about the bipartisan Infrastructure package bill that’s moving its way through Congress? 5 Points Realty is watching it closely. Why? Well the National Association of REALTORS sums it up best.
Infrastructure improvements have been shown to enhance property values by creating livable communities and business districts. Poorly maintained streets and traffic congestion in an area impose extra costs throughout the local economy. Further constraints on funding for transportation projects of all types, particularly those that contribute to walkable, stable, and vibrant neighborhoods, may negatively affect property values and inhibit development.
The bottom line is that good infrastructure often goes hand in hand with good places to live!
If you’ve ever driven Charlotte or anywhere in the state, really, you know there are roads, and bridges that could use some serious help. This bill would invest billions in both. Specifically, it has allotted $7.2 billion for highway programs and another $457 million for bridge replacement and repairs.
There’s also money in the package for rail and water supply.
That’s not all. Remember all of the headaches families experienced when schools went remote during the pandemic? There are parts of the state that do not have broadband. This bill would give $100 million to spread broadband coverage to the at least 424K North Carolinians who currently lack it.
Additional funds would go to protect coastal communities that continue to be hard hit by hurricanes each fall. That’s a big win for all of us Charlotteans who love our summer trips to the beach!
We could also possibly get some money for airport improvements, which is good news if you’ve been to Charlotte Douglas International lately. If you’ve driven around construction outside the airport or walked through a terminal that looks like it’s undergoing a third-world country renovation, it’s easy to see where extra cash could be used to speed things up. The region is growing quickly and the airport needs to support the growth.
Obviously a lot that will go into deciding who gets what and how much is given and the money wouldn’t just appear all at once. According to reports it would be dispersed over the next five years.
We support any legislation that is going to help our local communities thrive! Make it easier for commuters to get to and from work. Make it more attractive for businesses to locate here to keep our friends and neighbors employed and give them places to go! Now admittedly, we haven’t read the entire bill, but from what we’ve gathered it’s not surprising that lawmakers on both sides of the aisle support it.
Infrastructure is the foundation on which we literally live and work and play in our beloved city of Charlotte!