USA Banner

Official US Government Icon

Official websites use .gov
A .gov website belongs to an official government organization in the United States.

Secure Site Icon

Secure .gov websites use HTTPS
A lock ( ) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.

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

Transbay Transit Center

Transbay Transit Center
Alternate Project Name
Caltrain Downtown Extension / Redevelopment Area
Project Type
Public Transit
Financing Type
Credit Agreement Executed
Transbay Joint Powers Authority (TJPA)
Project Description

TJPA was created in 2001 as a collaboration of Bay Area government and transportation agencies to design, build, operate, and maintain the new Transbay Transit Center, which will replace the existing Transbay Terminal that serves local, regional, and intercity bus transit. The Transbay Transit Center Project will replace the Transbay Terminal with a new multi-modal transportation center and centralize the region's transportation network by accommodating nine transportation systems under one roof. The project consists of three components:

  • Replacing the outdated Transbay Terminal with a modern transit hub
  • Extending the Caltrain rail line from its current terminus 1.3 miles and into the heart of the Financial District, including a provision for future high-speed rail (Caltrain Downtown Extension Program)
  • Redeveloping the area surrounding the Transbay Transit Center

The Transbay Transit Center Project will construct a landmark multi-modal transit facility in downtown San Francisco, connecting the city’s urban core with 11 local, regional, and statewide transit systems. According to TJPA, mobility improvements constructed in this project will generate an estimated $380 million in annual travel time savings. The project will create a vibrant urban community by catalyzing nearby development, while reserving green space for a 5.4 acre rooftop park. The project is expected to facilitate the development of approximately 6 million square feet of commercial space and 4,500 new homes, over 1,300 of which will be affordable to low- and moderate-income households. Improvements are forecasted to create 125,000 jobs and $87 billion in gross regional product through 2030.

Project Details
TIFIA Assistance
Primary Revenue Pledge
Real Estate Tax Increments
Project Cost
Fiscal Year Closed
Temporary terminal construction started in December 2008. Demolition of original bus terminal is completed and the project began operating in August 2010. Phase 1 substantial completion occurred in late 2017.
Funding Sources
Note: $8.5M in bridge financing will be deducted following receipt of TIFIA funds.

Land Sales: $429.5M
TEA-21 Earmark: $8.8M
SAFETEA-LU Earmarks: $53.8M
TIFIA Loan: $171M
State Funding: $28.3M
Local Funding: $151.2M
Regional Funding $346.4M
Project Delivery/Contract Method
The San Francisco Redevelopment Agency (SFRA) in collaboration with the TJPA will develop the project through competitive bid by private developers under the SFRA's Redevelopment plan.
Project Participants
Project Advisers/Consultants
Pelli Clarke Pelli Architects/Hines - Transit Center design and development team

Webcor Obayashi, Joint Venture - Construction management

Orrick, Herrington & Sutcliffe - Bond counsel


TIFIA Legal Advisor: Katten Muchin Rosenman LLP
TIFIA Financial Advisor: First Southwest Company
Project Lender
Credit Assistance Detail
Direct loan: $171 million.
Financial Status
The TIFIA loan closed in January 2009. The TIFIA loan was fully repaid in June 2020.
This is the first TIFIA loan secured by value capture revenues from real estate taxes on surrounding transit oriented development.
The new transit center, with its sustainable and green building features, will make public transit a convenient option, thereby decreasing congestion and pollution.
Application Details
Transbay Joint Powers Authority
LOI Fiscal Year Received
LOI Received Date
Application Received Fiscal Year
Application Received Date
Estimated Project Cost
TIFIA Request
Instrument Type
Direct Loan