The $908 million loan was approved by the USDOT Build America Bureau in 2018, according to a Feb. 25 news release. Low interest rates spurred existing borrowers to inquire about refinancing during a time when nationwide transit agencies are operating on tight budgets, per the release.
“There’s no question that transit access to the rapidly growing Dallas suburbs needs to be expanded, and ensuring the new stations are accessible by walking, biking and wheelchairs will provide more options for residents and make it easier for people to choose more affordable and sustainable ways to get around,” U.S. Transportation Secretary Pete Buttigieg said in the release.
The loan will help pay for some of the construction costs associated with the 26-mile project, which will traverse seven cities, including Plano, Richardson and Grapevine. The line will connect with three existing DART lines and will include ten platforms. One new station is planned for just north of The University of Texas at Dallas.
“The department’s assistance helps DART deliver this ambitious project, which will extend service across the DART service area from the eastern edge across the northern suburbs and includes several infrastructure additions such as hike and bike trails, separated grade improvements, and full double-tracking across the entire segment,” DART Interim President and CEO David Leininger said in the release.
Construction is already underway along some parts of the line, which is expected to open to the public by March 2023. For more information on the Silver Line, visit this link.