Bus

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

Park City deploys Proterra's for Utah's first battery-electric transit fleet

The deployment also represents the first implementation of Proterra's innovative battery-lease financing model.

U.S. private-sector clients adding 10 Vicinity buses

Buses will be delivered to undisclosed companies in New York, Boston, and Boca Raton, Fla. 

CATS to add 19 ARBOC Spirit of Independence buses

The contract is the largest order ARBOC has received for the new product.

New Flyer acquires Carlson Engineered Composites

Carlson manufactures fiberglass reinforced polymer components primarily to OEMs of transportation vehicles and agricultural equipment, with 2016 sales exceeding $38 million.

Grande West receives orders for 9 Vicinity buses

Current total firm orders for 2017 and the first half of 2018 Vicinity deliveries are for 276 buses valued at over $74 million.

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

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational 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