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$171 million for Transbay Transit Center in San Francisco

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February 14, 2001 The construction of a new transit center in downtown San Francisco received a financial boost from a $171-million federal loan, U.S. Transportation Secretary Ray LaHood said. 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. 


"This project truly
represents a model in providing a seamless, interconnected system that combines
transportation options at one location," said Secretary LaHood. "It’s an
example for the rest of the nation in supporting the Department’s sustainability
and livability goals."

 

"This significant
federal investment in the Transbay Transit Center is a huge step forward in
completing this innovative project," said Speaker Nancy Pelosi. "The
Transbay Transit Center will increase public transport options, reduce
congestion, lower carbon emissions, and create jobs. The new, modern, green,
multi-modal, regional facility will become the ‘Grand Central of the West,’
connecting eight counties, nine transit systems, and communities throughout the
state with long-distance bus and rail service, including high-speed rail. In
addition, with the associated development of housing and businesses, Transbay
is on its way to becoming the heart of a revitalized neighborhood and a
national model of transit-oriented development.

The new multimodal,
regional facility, to be completed in 2014, will replace an outdated terminal
built in 1939.

"The loan is a great
example of how critical federal funding can advance transportation projects and
bring them closer to reality," Federal Highway Administrator Victor Mendez
added.


"The Transbay Transit
Center Project will centralize a fractured regional transportation network,
making transit connections between all points in the Bay Area fast and
convenient," said FTA Administrator Peter Rogoff. "The new transit center, with
its sustainable and green building features, will make public transit a
convenient option, allowing people to travel and commute without the need for a
car, thereby decreasing congestion and pollution."

The Department’s
Transportation Infrastructure Finance and Innovation Act (TIFIA) loan will also
finance ramps to the Bay Bridge, a bus storage facility and the design of the
underground transit facility as part of the project’s first phase.

The second phase, which
is still subject to financing commitments, will extend Caltrain service, the
California commuter rail line, 1.3 miles to the new center.

Overall, the new Transbay
Transit Center will serve more than 45 million passengers annually and house nine
transportation systems, including the San Francisco Municipal Railway (MUNI),
California high-speed rail and Greyhound. The new facility will improve
commutes within northern California and connect that region to the rest of the
state and the country. It is part of a larger plan to revitalize the downtown
area.

The Transbay Transit
Center is the first transit project of its kind funded by TIFIA.

The Transbay Joint Powers
Authority, a local government agency created to design, build, operate and
maintain the new center, will receive the loan to advance the project.

Construction cost for phase
one of the project is $1.189 billion. The total project cost is slated at $4.2
billion.

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