WASHINGTON — The U.S. Department of Transportation announces that its Build America Bureau (the Bureau) has provided a $250.29-million 35-year, low-interest loan to the Central Texas Regional Mobility Authority (CTRMA) for the 183N Mobility Project in the Austin metropolitan area. The Bureau provides Transportation Infrastructure Finance and Innovation Act (TIFIA) loans and other surface transportation infrastructure financing to reduce the costs of infrastructure projects.
The 183N Mobility Project involves construction of two express lanes in each direction along US 183 extending from SH 45N/RM 620 to State Loop 1 (MoPac), a distance of approximately nine miles, and the addition of a fourth general purpose lane in areas where there is not one currently. The express lanes will be helpful to emergency response vehicles and will allow Capital Metro to increase bus service during peak periods. Capital Metro recently announced its purchase of almost 200 new electric buses, the nation’s largest electric vehicle procurement to date, which will be utilized in the corridor. The project also includes building auxiliary lanes, shared used paths, sidewalks, and bicycle/pedestrian facilities.
“The 183 North Mobility Project will help make public transportation and alternative modes better choices for Austin metro commuters,” said Deputy Transportation Secretary Polly Trottenberg. “Coupled with Capital Metro’s recent investment in an electric bus fleet, this project supports safer, cleaner, and more reliable options for travel in the Austin area.”
“The Bureau is pleased to provide low-interest, long-term financing, giving the Central Texas Regional Mobility Authority flexibility to deliver this large-scale project for Austin,” said Bureau Executive Director Morteza Farajian.
The construction works are already under way and the 183N Mobility Project is expected to reach substantial completion by June 2025.
USDOT Announces Loan of Up to $250.29M to the Central Texas Regional Mobility Authority for 183N Mobility Project
