U.S. Transportation Secretary Ray LaHood today announced a federal loan of up to $280 million to advance construction on the 30-mile Eagle P3 commuter rail project, which will significantly expand transportation choices in the greater Denver area.
The project is a two-pronged effort. The western segment of Eagle P3, known as the Gold Line, will serve the suburbs of Arvada and Wheat Ridge. The East Line will run from Denver's historic Union Station nearly 23 miles east to Denver International Airport and will connect to existing light rail and bus service. Both lines are under construction and roughly 4,700 construction-related jobs are expected to be generated by the work.
RTD is the first transit agency in the nation to successfully pursue a comprehensive public-private partnership, or P3, that draws on a mix of federal loans and grants and private investment to move major capital transit projects in the region forward. The partnership encompasses all phases of design, construction, financing, operation, and maintenance. Read Secretary LaHood's Press Release. (December 2, 2011)