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U.S. Department of Transportation U.S. Department of Transportation Icon United States Department of Transportation United States Department of Transportation

Transit-Oriented Development

Denver Union Station

$155 million RRIF loan and $146 million TIFIA loan

Transbay Transit Center

$171 million TIFIA loan

Moynihan Train Hall

$526 million TIFIA loan

Mount Vernon Library Commons

$26.8 million TIFIA TOD loan through the Rural Projects Initiative (1/2 interest rate)

Interested in Financing for a Transit-oriented Development (TOD) Project?

Get Started Here!

 

Transit-oriented development (TOD) creates dense, walkable, and mixed-use spaces near transit that support vibrant, sustainable, and equitable communities. TOD projects include a mix of commercial, residential, office, and entertainment land uses. The Bureau can now provide TIFIA and RRIF loans for eligible TOD projects. Please use the following information to begin exploring financing for your TOD projects. For more information, please read the policy statement.

 

STEP 1) Learn about the TOD programs and watch the overview webinar:

 

STEP 2) After watching the overview webinar, decide if the programs match your timeline and needs, if you can comply with federal requirements, and if the associated costs are feasible within your budget (*for more information, see Step 1). If yes, please email BureauTOD@dot.gov with the following information and schedule your initial consultation at your convenience: 

 Applicant

  • Proposed Borrower
  • Public or private partners
  • List (up to five) similar projects that the borrower, project partners or investors have successfully delivered 

Project

  • Name
  • Location (site address and nearest transit or rail station/facility) 
  • Brief description (scope of project; include information sheets and/or website if available) 
  • Status and timeline (desired loan close, construction start and finish) 
  • Plan of finance (funding sources [private, federal, other public], total project cost, financing need/loan size) 

 

STEP 3) Attend your consultation with a member of our team. We look forward to working with you.

 

Additional Background

The FAST Act expanded RRIF and TIFIA program eligibility to include TOD projects and related infrastructure. To be eligible for loans through these programs, TOD projects must comply with the TOD-specific eligibility criteria, summarized below, the general provisions of the TIFIA and RRIF programs, and all applicable federal requirements. General information on the RRIF and TIFIA programs can be found in the Credit Programs Guide.

  RRIF TIFIA
Project Types
  • Economic development, including commercial and residential development
  • Economic development, including commercial and residential development
  • Public infrastructure
  • Joint development
Borrower Eligibility
  • State governments
  • Local governments
  • Railroads
  • Government-sponsored authorities and corporations
  • Limited option freight shippers
  • Entities participating in joint ventures including at least one other eligible borrower types
  • State governments
  • State infrastructure banks
  • Local governments
  • Private firms 
  • Special authorities
  • Transportation improvement districts
Program Highlights
  • At least 25% of project costs funded from non-federal sources
  • Interest rate set at the U.S. Treasury rate for a security of similar maturity
  • Flexible amortization
    • Repayment period up to 35 years
    • Deferred payment up to 5 years after substantial completion
    • No pre-payment penalty
  • Finance up to 49% of eligible project costs 
  • Interest rate set at the U.S. Treasury rate for a security of similar maturity (or 1/2 of the U.S. Treasury rate for rural projects)
  • Flexible amortization
    • Repayment period up to 35 years
    • Deferred payment up to 5 years after substantial completion
    • No pre-payment penalty