Toll Changes Coming To 125

LA MESA -- It is about to get a lot cheaper to travel the 125 tollway.

Tolls for the pay section of State Road 125 will decrease by up to 40 percent in some cases along the roadway that many have considered woefully overpriced since it opened.

Effective Saturday, June 30, the San Diego Association of Governments will cut the tolls along the road it recently purchased.

Savings for customers enrolled in the FasTrak electronic tolling system will be especially dramatic. New tolls will range from 50 cents to $2.75 for FasTrak users and from $2 to $3.50 for cash and credit card users. Current tolls are 85 cents to $3.85 for FasTrak users and $2.50 to $4 for cash and credit card users.

“We are following through with our promise to taxpayers to lower tolls on South Bay Expressway,” SANDAG Chairman and Encinitas Mayor Jerome Stocks said. “We are optimistic that lower tolls will draw traffic away from nearby congested arterial streets and Interstate 805, improving overall mobility in South Bay.”

The revamped toll structure was approved by the SANDAG Board of Directors on May 25, 2012. SANDAG acquired the lease to operate the toll road in December 2011.

As a public agency whose mission is to improve mobility in the region, SANDAG’s business approach is different from that of the previous toll road operator. The new toll schedule balances toll reductions against generating enough revenue to pay for operations and maintenance, debt service, future improvements, and contingencies.

What is still not known is what effect cheaper toll prices along the 125 will mean for La Mesa. Since that road was opened, morning and evening rush hours have worsened at the 125/I-8 Interchange as more motorists have used the route to travel from Eastlake to Mission Valley along I-8 and on to the Golden Triangle via the newly expanded 52.

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Tags: La Mesa Today, La Mesa news, La Mesa traffic, SANDAG, South Bay Expressway, toll roads

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HousingWire

California housing market bounces back in February after slow start to year

Source: C.A.R.

Slowing home price appreciation and improving inventory combined to boost California’s housing market in February as existing home sales and median home prices increased from both the previous month and year, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). Making sense of the story:

 Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 368,160 units in February, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.

 Sales in February were up 4.7 percent from a revised 351,480 in January and up 2.4 percent from a revised 359,600 in February 2014. The year-over-year increase was the largest observed since December 2012.

 “While February’s statewide improvement in the housing market was moderate, it’s an encouraging sign, nevertheless, as we head into the spring home-buying season,” said C.A.R. President Chris Kutzkey. “On the supply side, housing inventory improved overall with active listings growing at a faster pace of 5.3 percent when compared to last February.”

 The median price of an existing, single-family detached California home was essentially flat from January’s median price, inching up from $426,660 in January to $428,970 in February. February’s median price was 5.5 percent higher than the revised $406,460 recorded in February 2014.

 While the statewide median home price is higher than a year ago, the rate of increase has narrowed significantly since early 2014. The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling as well as a general change in values.

 The available supply of existing, single-family detached homes for sale statewide in February was unchanged from the 5 months reported in January. The index was 4.7 months in February 2014. The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate.

 The median number of days it took to sell a single-family home shortened in February, down from a 52.4 days in January to 47 days in February but up from 40.1 days in February 2014.

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