"As the gateway to one of the nation's fastest growing cities, Denver Union Station is not only transforming how the region moves, but it has transformed Denver's economy by spurring nearly a billion dollars in private investment," said U.S. Transportation Secretary Anthony Foxx. "We need Congress to pass a long-term transportation bill so we can continue to invest in more good projects like this transportation hub to meet the rising demand for more and better transportation choices."
The new bus facility is part of a larger effort to redevelop Denver Union Station into a modern transportation center that integrates light rail, Amtrak and new commuter rail lines with seamless connections to local, regional and intercity bus services.
"Nationwide, revitalized stations are proving to be magnets for economic development," said Federal Railroad Administrator Joseph Szabo. "This project has transformed the city's economy by spurring investment in the private sector and has helped Denver's construction industry add jobs and rebound from the recession."
The Federal Transit Administration (FTA) and Federal Highway Administration have provided $87.3 million in grant funding toward the $479-million total cost of the Denver Union Station redevelopment project. In addition, FTA is providing approximately $300 million in loans from its Transportation Infrastructure Finance and Innovation Act (TIFIA) program and the Federal Railroad Administration's Railroad Rehabilitation and Improvement Financing loan program.
The U.S. Department of Transportation also is providing $1 billion in FTA Capital Investment (New Starts) grant funding and a TIFIA loan of up to $280 million for Denver Regional Transportation District's (RTD) Eagle P3 project, which includes construction of two new rail lines that will serve Denver Union Station and are expected to open in 2016. The East Line will connect Denver International Airport to Union Station and the Gold Line will connect to the western suburbs of Wheat Ridge and Arvada.
Denver Union Station's renovation and the Eagle P3 project are part of RTD's far-reaching FasTracks program that will help spur the economy by attracting nearly a billion dollars in private investment.