What Affect Will the ICC Have on Property Value?

Living just a few miles from where the first segment of the Intercounty Connector (ICC) is scheduled to open this fall in Maryland, I’ve been thinking a lot about what the new road will do for our property value. By late 2011, when two additional segments of the ICC are due to open, it will be possible for someone living in my area to travel from 270 near Rockville to 95 near Laurel without having to go on the DC Beltway or back roads.

Suddenly, it should get much easier for anyone living near us to work in places like Columbia and Baltimore or fly out of BWI, to give just a few examples of what the new road could offer, and I anticipate the ICC will have a positive affect on property value for those with easy access to it. My hunch is that we might see an up-tick in the next few months, as the opening of the first stretch nears and buzz around it builds, with more to come as we approach the opening of the remaining stretches that will connect 270 and 95 in late 2011.

What do you think?

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3 thoughts on “What Affect Will the ICC Have on Property Value?

  1. Pingback: Rockville Central » Intercounty Connector Opens In Fall; How Might It Affect Property Values?

  2. Hi Mike –
    I also thought about this the other day while driving on Muncaster Mill Rd and seeing the progress they are making. We also live near the 370 starting point of the ICC and have lived with the traffic pattern changes and construction over the past months, which has been a pain. However, the end result will be helpful to many local residents who commute.
    As far as your question…I do think it will influence housing prices overall, but even more so after it is fully operational. Hopefully, by that time, they will evaluate the price proposed, which is going to be a factor if not affordable. But, back to your question – any time there is a value-add to a home (such as location or convenience), it will be positive and affect price. Of course, those homes located directly on or very near the road will have noise, but so many homes in the DC area are located near major highways, Metro Stations and MARC Train Stations, and they sell – A matter of fact, in some areas, homes near transportation are in demand! (Recently sold a home right near the current construction and new jersey wall and got an offer in a month and ended up with full price sale – Location, Location, Location!)
    Although, I do feel for those who were displaced or inconvenienced with this project, part of living in this area is the growing pains. As population grows, roads have to be built.
    Overall, the ICC will give residents the option to use it to get to the airport or the other side of town and not have to deal with the 495 traffic or back roads. To some, that is worth any price! And, in the DC Metro area, convenience is key!

    • When the whole project is finished, I think home prices in the Laurel, MD area will rise too because now someone living there could easily commute to the I-270 Tech Corridor (where lot of the bio sciences/high-tech jobs are) without having to take the beltway or inner roads. Right now, homes in the Laurel area are much more affordable than the Gaithersburg area.

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