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 |
Los Angeles, California |
Project Borrower / Sponsor |
Los Angeles County Metropolitan Transportation Authority |
Program Area |
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Fiscal Year Approved |
Fiscal Year 2014 |
Mode |
Heavy Rail Transit |
Description |
The Purple Line Extension (formerly known as the Westside Subway Extension) is the extension of the Purple Line from its current terminus at Wilshire/Western nine miles to Los Angeles' "second downtown" through the neighborhoods of Beverly Hills, Century City, and Westwood. The new line will ultimately add seven stations upon the completion of all three phases of the project. Section I of the project also includes the procurement of 34 new heavy rail vehicles compatible with the existing system and improvements to existing Division 20 Rail Maintenance and Storage Yard to accommodate additional vehicles. The extension is currently slated to be built in three sections by the design-build delivery method: Section 1 is a 3.9-mile long segment along the Miracle Mile to Wilshire and La Cienega Boulevards (including three stations), Section 2 is 2.6 miles from La Cienega to Century City, and Section 3 is a 2.9-mile section through Westwood to the VA Hospital. The extension will consist of twin tunnels approximately 20 feet wide, located 50-70 feet underground. The tunnels will be constructed using the cut and cover method. |
Cost |
$2.648 billion (Section I) |
Funding Sources |
Federal Sources:
State Sources:
Local Sources:
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Project Delivery / Contract Method |
Design-Build |
Private Partner |
To be determined |
Project Advisors / Consultants |
The PFM Group - Financial Advisor Fulbright & Jaworski - Counsel to the Borrower Additional Advisors To USDOT TIFIA JPO:
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Lenders |
USDOT TIFIA |
Duration / Status |
Construction of Section 1 is expected to begin in 2014, after receipt of a New Starts Full Funding Grant Agreement and TIFIA loan. Anticipated completion date of Section I is 2024. |
TIFIA Credit Assistance |
Direct loan: $856 million TIFIA loan will be repaid with Measure R local retail sales tax revenue. |
Financial Status / Financial Performance |
TIFIA credit agreement was executed on May 21, 2014. Financial close occurred on May 21, 2014. |
Innovations |
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Related Links / Articles |
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Contacts |
Metro Purple Line Extension |
