The future designation of the Fayetteville Outer Loop as Interstate 295 was approved by the American Association of State Highway and Transportation Officials (AASHTO) in May 2005 following an earlier approval by the Federal Highway Administration (FHWA). Signs designation "Future I-295" were put up along the route when the section between Interstate 95 and River Road was opened in July 2005. The first short section of this highway had opened earlier in June 2003, and it extended only from River Road to US 401. Then, the only mentions of a highway number were on street signs at the entrance ramps that said I-295 (with an additional "FUTURE" on some). In May 2019 the FHWA officially added the then open 14.1 miles of NC 295 to the Interstate System, this follows up on approval by AASHTO in the fall of 2018. NCDOT may have received a waiver since two parts of it (namely the bridge that crosses the Cape Fear River and its interchange with I-95) are not quite up to Interstate Highway standards.