Location |
Chicago, Illinois |
Project Borrower / Sponsor |
Chicago Transit Authority |
Program Areas |
|
Fiscal Year Approved | Fiscal Year 2013 |
Mode |
Intermodal Transit |
Description |
The existing 95th/Dan Ryan Terminal is an intermodal transit hub that connects commuters to 13 bus routes and serves as the terminus of the Chicago Transit Authority's (CTA) Red Line. The 9.4-mile Dan Ryan Branch of the CTA Red Line ends at the 95th Street Terminal. This station is integral in connecting residents in Far South Side communities and suburbs to jobs throughout the region. The design of the current terminal leads to overcrowding of passengers and congestion for bus traffic utilizing the station. Due to station configuration, many passengers use terminal areas for street access, posing safety risks to commuters. The project will rehabilitate the current 95th Street Bus and Rail Terminal, which dates from 1969, with an expanded modern facility. As part of the CTA 2013-2017 Capital Improvement Plan, the Dan Ryan Branch is being fully reconstructed. This project consists of a redesign of the existing terminal to provide more space and improve mobility of passengers in and around the station. Specific project improvements include:
|
Cost |
$240 million |
Funding Sources |
TIFIA Loan - $79.2 million Illinois DOT - $50 million Chicago Transit Authority Funds - $47.6 million RTA Bond Proceeds - $35 million TIGER Grant Proceeds - $18.2 million Federal Bus Livability Grant - $10 million |
Project Delivery/Contract Method |
Design-Bid-Build |
Private Partner |
None |
Project Advisors/Consultants |
To the Borrower:
To USDOT JPO:
|
Lenders | Bondholders, USDOT TIFIA |
Duration/Status |
Construction began in July 2014. The project is expected to reach substantial completion in 2016. |
TIFIA Credit Assistance | Direct loan: $79.2 million TIFIA loan will be repaid with fare box revenue |
Financial Status |
CTA was awarded a $20 million TIGER IV grant in June 2012. The TIFIA credit agreement was executed on April 24, 2014. |
Innovations |
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Related Links/Articles |
Chicago Transit Authority 95th Street Terminal Improvement Project Website |
Contacts |
Tom McKone |