Chicago Transit closes $79M TIFIA loan

Posted on May 1, 2014

<p>A train of Lake-Dan Ryan All-Stop 2200's are heading southbound into 95th Street, finishing their run, looking north from the 95th St. bridge in 1973. Photo courtesy Chicago The Chicago Transit Authority (CTA) closed a $79 million Transportation Infrastructure Finance Innovation Act (TIFIA) loan for its 95th Street Bus and Rail project.

As part of the CTA 2013-2017 Capital Improvement Plan, the 9.4 mile Dan Ryan Branch of the CTA Red Line is being fully reconstructed. Improvements to the terminal will mean better bus and rail connections and reduced travel congestion and delays.

The project will enable CTA riders connecting to and from rail services to access multiple transportation options, including bus service, bike-and-ride, and car sharing. Planned improvements will include increased lighting and security cameras, wider walkways, a pedestrian bridge to reduce potential collisions, full wheelchair accessibility, improved bus maneuverability and other design amenities lacking in the current 1969 facility.

The Red Line accounts for nearly 40% of annual CTA ridership and the Dan Ryan branch accounts for roughly 2o% of Red Line trips. Of these, roughly one quarter originate at the 95th Street Terminal.

The construction site, which is over the median of the Dan Ryan Expressway I-94, will require CTA to purchase a 2.3 acre parcel adjacent to the current terminal in order to serve as a staging area during reconstruction. Following completion of the construction, CTA may convert the stating area to a park-and-ride facility.

The loan will go toward the $240 million total cost of the project. The project also received a $20 million Transportation Investment Generating Economic Recovery grant in 2012 from the U.S. Department of Transportation.

View comments or post a comment on this story. (0 Comments)

More News

Fla.'s HART partners with Megabus.com to pilot service option

The agency is already providing enhanced routes and options through a unique 5-year partnership agreement with Megabus.com which began last year, to offer express travel to and from Miami and Orlando for as little as $1.

BusCon 2015 takes Indy by storm with new vehicles, tech and education

The 20th installment of the show featured more than 50 new exhibitors, 70-plus vehicles and plenty of information to inspire attendees.

House moves to delay PTC deadline

A bipartisan measure has been introduced in the lower chamber that would push back the deadline for most railroads to install automated train technology until December 2018.

Volvo celebrates new Nova, Prevost customer delivery center

The new Plattsburgh, N.Y., building will be equipped of a welcoming customer area, 10 bus delivery spaces and offices to enable our customers to continue their professional activities during their stay.

Webinar Helps Passenger Fleet Managers Understand Hybrid Options

Fleet managers for transit agencies, universities and schools, governments and for-hire transit companies are encouraged to register while spaces are still available.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment



Work Truck Magazine

The resource for managers of class 1-7 truck Fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close