CEDAR PARK, Texas — Cedar Park could be getting a new tollway along Ronald Reagan Boulevard.

The Cedar Park City Council approved a study to look into creating an eight-lane controlled-access roadway that would run from Whitestone Boulevard, or RM 1431, to Interstate 35.

The proposed 30-mile project would be built in five segments.

Williamson County has already created a schematic design for the project, which would include a toll lane in both directions at RM 1431 and two raised toll lanes in both directions heading north.

The project would also include two to three frontage lanes in each direction with intersections. Officials say existing frontage lanes would remain free to drivers.

The Cedar Park portion alone is estimated to cost more than $500 million.

The Central Texas Regional Mobility Authority will conduct the traffic and revenue study at no cost to the city. The study will address traffic flow and projected revenue from the project and help inform toll prices.

So far, the council has only approved the study and not committed to the design or construction. If the project were to move forward, it would be funded by CTRMA toll revenue.