The completion of the Gloucester Parkway extension at Kincora was celebrated with a ribbon-cutting ceremony this morning. The extension provides a critical new crossing of Broad Run providing a convenient connection from the Loudoun County Parkway to Pacific Boulevard and beyond. The extension combined with the opening of Pacific Boulevard connection to Russell Branch Parkway later this year will complete the last link in the Gloucester/Pacific Comprehensive Transportation Plan. These improvements will enable 70 percent of Loudoun County’s population to get to and through Kincora without having to use either Route 7 or Route 28.
The Gloucester Parkway extension is the result of an unprecedented public-private partnership between Loudoun County, the Commonwealth of Virginia and Kincora, formed to create an innovative response to a significant regional transportation challenge. The public-private partnership was able to monetize Kincora’s future development rights creating a $76 million financing plan to build both the Gloucester Parkway extension and the Pacific Boulevard crossing of the Broad Run. From the initial funding to completion, the projects have taken a remarkable three years. The infrastructure is in place at least 10 years ahead of schedule if Kincora’s infrastructure was triggered at certain density levels being achieved at Kincora. Already, Kincora has repaid over $8 million to the Virginia Transportation Infrastructure Bank for this project creating additional funding for other critical projects in the Commonwealth.
“This is a great example of how public-private partnerships can work to bring needed improvements to the community,” said Michael Scott, co-developer of Kincora. “Kincora is thrilled to be a part of a solution that will provide a significant transportation improvement to county residents and reduce public safety response times.”
With the completion of the Gloucester Parkway extension and the soon to be completed Pacific Boulevard connection to Russell Branch Parkway, all of Kincora’s main infrastructure will have been built prior to any vertical development occurring.
“I commend Kincora for its willingness to work with the County and the Commonwealth to bring about these transportation improvements well ahead of schedule,” said Phyllis Randall, Chairwoman of the Loudoun County Board of Supervisors. “The real winner will be Loudoun commuters and emergency response teams who now have a new east-west option and will soon have another transportation option when the second crossing of the Broad Run is completed with Pacific Boulevard later this year.”
For more information please visit kincora.com