On May 15th, the Pima County Board of Supervisors voted unanimously to proceed with a public/private partnership that will fund the extension of Valencia Road to Old Spanish Trail on Tucson’s southeast side. The $16 million project will include a 2.6 mile extension of Valencia from Houghton Road to Old Spanish Trail. The extension will likely be constructed as a two lane road initially, but expanded to four lanes as the Rocking K South development and other Rincon Valley developments progress. A new traffic signal at Valencia and Old Spanish Trail will be installed while also widening Old Spanish Trail to 4 lanes, from the new intersection south to Camino Loma Alta. A bridge over the Pantano Wash, as well as bank protection on either side of the bridge, will also be a part of the project.
Valencia extension to Old Spanish Trail
The funding will come through the county’s use of $16 million in certificates of participation, an alternative to traditional municipal bonds. Diamond Ventures, the developer behind the Rocking K development, would then pay back the county’s debt over 15 years of impact fees. If impact fees do not fully repay the county, Diamond Ventures will have to pay any left over debt. Diamond Ventures also has to put up the Rocking K land as collateral.
Valencia is being extended in anticipation of the Rocking K South development, a very large housing and multi-use development on the southeast side of Tucson-Metro. The extension should also offer easier access to Saguaro National Park East when approaching from the south. This year is the tentatively scheduled start of work on the community facilities district, which will construct the necessary infrastructure for Rocking K South development. For additional information on the community facilities district plan and the Rocking K South multi-phase plan, you can view our previous article on the development here. The Valencia extension is tentatively scheduled to start construction in 2018. As always, let us know what you think of the project in the comments below!
Article Reprinted From (TIBO) Tucson Improvement & Beautification Organization
