$323.2 million in total project costs; $301.86 million in project costs eligible for TIFIA financing
Under construction; substantial completion is expected in 2022.
The City of Bellevue, Washington is developing the BelRed Street Network (Project), a combination of 12 multimodal roadways, to support the new BelRed neighborhood in the heart of the City. The Project, along with the introduction of East Link light rail by Sound Transit, is intended to provide a catalyst for redevelopment of the BelRed neighborhood to be connected, multi-modal, pedestrian-friendly, and transit-oriented. The Project will deliver multi-modal mobility enhancements that are expected to improve access to transit, reduce travel times, and improve access to employment along the Project path.
- City of Bellevue: $158.9 million
- TIFIA loan: $99.6 million
- Sound Transit: $22.4 million
- Federal Grant: $22.1 million
- State Grant: $17.6 million
- Private Contributions: $2.6 million
To the City of Bellevue:
- Financial Advisor - Piper Jaffray
- Legal Advisors - Pacifica Law Group, LLP
To USDOT Build America Bureau:
- Financial Advisor - Montague DeRose/High Street Consulting
- Legal Advisor - Bryant, Miller & Olive
Direct loan: $99.6 million. The TIFIA loan is secured by a limited tax general obligation pledge of the City of Bellevue.
Assistant Director Capital Program Services