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Source : Purple Line Transit Partners
April 14, 2022
Author : Alex Bustillos
The loan will finance as much as 33 percent of the $5.9 billion eligible costs of the Purple Line Light Rail Transit Project in Maryland. Now under construction, the Purple Line is a 16.2-mile, 21-station light rail transit line that will span Montgomery County to New Carrollton on the outskirts of Washington, DC.
“The Purple Line will provide faster, more direct, and more reliable transit service for the suburban Maryland and DC region’s residents and visitors while easing congestion on local roads,” said Deputy Transportation Secretary Polly Trottenberg. “By cutting an estimated 17,000 vehicle trips each day and operating using electric power, this project has tremendous environmental benefits as well.”
The project is a public-private partnership between The Maryland Department of Transportation Maryland Transit Administration and the Purple Line Transit Partners which will include the design, building, operation and maintenance of the light rail line for 35 years.
The loan announced on Wednesday from USDOT replaces a prior $874.6 million loan that closed in June 2016.’
Also on Wednesday, Purple Line Transit Partners announced they reached financial close on the project and full-scale construction will resume in late spring or early summer, with completion anticipated for the fall of 2026.