The Pocahontas Parkway (VA-895) is an 8.8-mile, four-lane, orbital toll road in southeast Richmond, Virginia connecting I-95 and the Chippenham Parkway to I-295. The Parkway also includes the 1.6-mile, four-lane Richmond Airport Connector, providing access to Richmond International Airport. The toll road was developed in 1998 by the Pocahontas Parkway Association, a nonprofit public benefit corporation created by the Virginia Department of Transportation (VDOT) to finance the project under regulations established by IRS Revenue Ruling 63-20. In June 2006, the road was leased for 99 years to Transurban, an Australian toll operator. Following several years of poor traffic and revenue, Transurban transferred its stake in the Parkway to its senior lenders in 2014. |
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