High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Chicago & Midwest  + Illinois  | 

CTA Receives $1.1B Grant for Improvements

The city of Chicago received approximately $1.1 billion in federal grants to rebuild a stretch of the Chicago Transit Authority’s (CTA) mass-transit train line, the “L’s” Red Line north. The money will be used to build new stations, and upgrade signals, track and structures in a mile-long stretch from Lawrence Avenue to Bryn Mawr Avenue. Also in the line for upgrades is a bypass separating the Red and Brown line tracks, just north of Belmont Avenue.

The U.S. Department of Transportation and the city will be signing a contract committing the DOT’s Federal Transit Agency to provide $957 million  in “core capacity” funds” and an additional $125 million in anti-congestion money. The money will be matched with a special transit taxi-increment financing district covering property one-half mile on either side of the Red Line from North Avenue to the city limits.

For comments, questions or concerns, please contact Amy Sorter

 

Connect

Inside The Story

Read More at Crain's Chicago Business

About Connect CRE