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The U.S. Department of Transportation’s (USDOT) Build America Bureau (BAB) is providing a $106.9 million Transportation Infrastructure Finance and Innovation Act (TIFIA) loan to the Colorado High Performance Transportation Enterprise (HPTE) for the C-470 Express Lanes Project.
The project is the first phase of an effort to add capacity to the 26-mile C-470 highway that runs between the intersection of Interstate 25 and E-470 and the intersection of US 36 and I-70 along the southern and western part of metro Denver. Express tolled lanes will be added to the corridor, as well as an improved road layout over roughly 11.2 miles of highway. Most of the project is expected to be complete by July 2019.
“By leveraging a loan from the Bureau, more projects like the C-470 Express Lane Project can become viable,” says Marty Klepper, BAB executive director. “We have an open door policy for any transportation project sponsor to meet with our team to discuss Bureau loan programs that could move projects forward.”
HPTE says the project will enhance mobility for all corridor users, and “during a typical evening westbound commute” users will save up to 18 minutes in travel time.