How the Center for Innovative Finance Support Office Does Business...
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About Us |
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Capacity Building |
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Outreach/Awareness |
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Research |
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Technical Assistance |
Location |
Northern Virginia |
Project Borrower(s) |
Metropolitan Washington Airports Authority (MWAA) |
Program Areas |
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| Fiscal Year Approved | Fiscal Year 2014 |
Mode |
Heavy Rail |
Description |
The Dulles Corridor Metrorail Project is a new 23-mile extension of the current Metrorail system, branching from the Orange Line's East Falls Church Station in Arlington, Virginia to the Washington Dulles International Airport and west to eastern Loudoun County. The project will add 11 stations, and it includes the construction of a new rail yard on Dulles Airport property and procurement of 128 railcars. Upon completion of the project, operation will be transferred to the Washington Metropolitan Area Transit Authority (WMATA), the operator of the existing Metrorail system. The project is being constructed in two phases. Phase 1 runs 12 miles from East Falls Church to Wiehle Avenue in Reston. This phase includes five stations to the Silver Line, including four in Tysons Corner. Phase 2 will continue 11 miles from Wiehle Avenue to eastern Loudoun County. This phase will add six stations, including stops in Reston, Herndon, Dulles Airport, and in Ashburn. The extension will serve the largest employment centers in Virginia, Tysons Corner and the Reston/Herndon region, as well as provide a one-seat ride from Dulles Airport to downtown Washington, DC. |
Cost |
Total Project Cost (design and construction): $5.683 billion |
Funding Sources |
Phase 1: $2.906 billion (capital costs and Route 7 improvements) Phase 2: $2.778 billion (preliminary engineering estimate) Total Project: $5.684 billion (capital costs)
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Project Delivery / Contract Method |
Design-Build (Phases 1 and 2) |
Private Partner |
Phase 1:
Phase 2:
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Project Advisors / Consultants |
Additional Advisors To USDOT TIFIA JPO:
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Lenders |
USDOT TIFIA |
Duration / Status |
Phase 1: Design-builder signed contract in March 2008. Construction began in March 2009 and the project opened in July 2014. Phase 2: Design-builder was named in April 2013, and construction began in 2014. Substantial completion is expected January 2019. |
| TIFIA Credit Assistance | Direct Loan (MWAA): $1,278 million Direct Loans (Fairfax): $403.3 million Direct Loan (Loudoun): $195.1 million Total Direct Loans: $1,875.7 million TIFIA will finance direct loans to leverage the financial commitments made by Fairfax County, Loudoun County, and MWAA to expedite the construction period and save financing costs. The TIFIA loan to MWAA will be repaid in part from Dulles Toll Road revenues after payment of annual operation and maintenance expenses and debt service on higher priority bonds. The TIFIA loan to Fairfax County will be repaid with annual appropriations of funds from the County. The TIFIA loan to Loudoun County will be repaid with revenues generated from assessments from a special tax district as well as annual appropriations of funds from the County. |
Financial Status / Financial Performance |
The FTA Full Funding Grant Agreement for Phase 1 was executed in March 2009. The TIFIA credit agreement for MWAA was executed on August 20, 2014, for Loudoun County through its Economic Development Authority on December 9, 2014 and for Fairfax County through its Economic Development Authority on December 17, 2014. |
Innovations |
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Related Links / Articles |
Dulles Corridor Metrorail Project Website |
Contacts |
Dulles Corridor Metrorail Project Office |
