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CTA 95th Street Terminal Improvement

CTA 95th Street Terminal Improvement
Project Type: 
Public Transit
Sponsor / Borrower: 
Chicago Transit Authority
Credit Agreement Status: 
Active
TIFIA Assistance: 
$79 million
Primary Revenue Pledge: 
Farebox Revenues
Project Cost Details: 

$240 million

Duration / Status: 

Construction began in July 2014. The project is expected to reach substantial completion in 2018.

Fiscal Year Closed: 
FY2014
Project Description: 

The existing 95th/Dan Ryan Terminal is an intermodal transit hub that connects commuters to 13 bus routes, and it serves as the terminus of the Chicago Transit Authority's (CTA) Red Line. The 9.4-mile Dan Ryan Branch of the CTA Red Line ends at the 95th Street Terminal. This station is integral in connecting residents in Far South Side communities and suburbs to jobs throughout the region. The design of the current terminal leads to overcrowding of passengers and congestion for bus traffic utilizing the station. Due to station configuration, many passengers use terminal areas for street access, posing safety risks to commuters.

The project will rehabilitate the current 95th Street Bus and Rail Terminal, which dates from 1969, with an expanded modern facility. As part of the CTA 2013-2017 Capital Improvement Plan, the Dan Ryan Branch is being fully reconstructed. This project consists of a redesign of the existing terminal to provide more space and improve mobility of passengers in and around the station. Specific project improvements include:

  • Expansion of the North Station through construction of ground level retail and additional passenger areas
  • Construction of a new, 3-story South Station (two levels above ground and one platform level below)
  • Increased lighting and security cameras
  • Expansion of sidewalks and bus lanes to reduce congestion
  • Full wheel-chair accessibility
  • Traffic signal improvements to increase the number of peak hour buses capable of circulating the terminal
  • Sound panels at platform level to reduce noise in the terminal

In its current state, the 95th Street terminal can no longer serve the nearly 5.5 million rail and bus passengers who transfer at the station.  Through the specific improvements bulleted above, the project will enhance commuter safety and extend direct transit access to the 350,000 residents of the study area. This project is also part of a larger, coordinated effort from the CTA to reduce emissions.  According to CTA, combined with other ongoing CTA projects, the 95th Street terminal project is expected to help sustain an annual offset of 19.2 million auto trips, 118.3 million annual auto miles, and 4.9 million gallons of motor fuel.  Construction of the project is expected to generate 650 jobs alone, while the completed project is estimated to facilitate $288 million in economic development. According to the CTA, the TIFIA financing of the 95th Street Terminal Improvement allowed for the realization of these benefits with a net present value debt savings of approximately $28 million, while permitting a more flexible repayment schedule and opportunities to increase project scope.

Funding Sources: 
  • TIFIA Loan: $79.2M
  • Illinois DOT: $50M
  • Chicago Transit Authority Funds: $47.6M
  • RTA Bond Proceeds: $35M
  • TIGER Grant Proceeds: $18.2M
  • Federal Bus Livability Grant: $10M
Project Delivery / Contract Method: 

Design-Bid-Build

Project Participants: 
None
Project Advisors / Consultants: 

To the Borrower:

  • The PFM Group - Financial Advisor
  • Charity & Associates PC - Counsel to the Borrower

To USDOT JPO:

  • TIFIA Legal Advisor: Hawkins Delafied & Wood, LLP
  • TIFIA Financial Advisor: IMG Rebel Group
Project Lender(s): 
Bondholders, USDOT TIFIA
TIFIA Credit Assistance Detail: 

Direct loan: $79.2 million. The TIFIA loan will be repaid with farebox revenues.

Financial Status: 
The TIFIA credit agreement was executed in April 2014. Interest and principal payments are set to begin in 2020; final loan maturity is expected to occur in 2050.
Innovations: 

Project improvements will accommodate approximately six additional buses (including two larger bays for articulated buses), increase enclosed or canopy-covered space by approximately 30,000 square feet, and expand platform length to accommodate 10 car trains (currently accommodates eight car trains).

Project Contacts: 

Tom McKone 
Budget, Management, and Capital Finance 
Chicago Transit Authority 
567 West Lake Street 
Chicago, IL 60680 
312-681-3470 
tmckone@transitchicago.com

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