The construction of a new transit center in downtown San Francisco, CA just received a financial boost from a $171 million TIFIA loan. Construction cost for phase one of the project is $1.189 billion. The total project cost is slated at $4.2 billion. The new Transbay Transit Center will connect the Bay Area to the rest of California, making daily commutes and longer trips easier, faster, and more convenient. The new multimodal, regional facility will be completed in 2014. This is the first TIFIA loan secured by value capture revenues from real estate taxes on surrounding transit oriented development.
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