Purple Line Light Rail: US DOT Awards Maryland $1.76 Billion TIFA Loan

The U.S. Department of Transportation announced Thursday that it would provide up to $1.76 billion in low-interest loans for the Purple Line Light Rail Transit Project in Maryland.

The loan is part of the Build America Bureau program and will be awarded to the Purple Line Transit Partners to finance up to 33 percent of the $5.9 billion in project costs.

“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 Purple Line, already under construction, is a 16.2-mile, 21-station, east to west light rail transit line extending from Bethesda in Montgomery County to New Carrollton in Prince George’s County. The line will connect those areas to 16 other stations along the Northeast Corridor line. The project will also complete the Capital Crescent Trail for bicyclists and pedestrians.

“The much-anticipated Purple Line will serve areas that will benefit from associated economic development while creating opportunities for transit-oriented development,” said Bureau Executive Director Morteza Farajian. “We worked closely with our partners to finalize this loan, which is an essential piece of the financing to move this critical project forward.”

Working under a 35-year Public Private Partnership (P3), the Maryland Department of Transportation Maryland Transit Administration will partner with the Purple Line Transit Partners for the next to design, build, operate and maintain the light rail system. The new loan replaces an $874.6 million loan from June 2016.

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Meridiam Announces Financial close of Washington DC area Light Rail line and Resumption of construction

Sun May 1 , 2022
Today, Meridiam announced that the Purple Line light rail transit project has successfully reached financial close. This operation secures funding for the remainder of construction and for future operations and maintenance. Full-scale construction of the light rail, which represents total investments of more than USD 2.5 billion, will now resume […]

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