The City of Chicago has scored a much needed $1.1 billion commitment in federal funding for the ongoing modernization of the Red Line just days before President Barack Obama is scheduled to leave office. The city was scrambling in November to get all of the necessary application materials submitted in order to secure the funds, but over the weekend, it was reported that the federal U.S. Department of Transportation had committed to providing the money which the city will use to rebuild a handful of stations and complete an ambitious flyover project near the busy Belmont station.
Combined with $1 billion that will be raised by the city, the CTA will have $2.1 billion to help pay for the costly Red-Purple modernization. Several stations, including the Lawrence, Argyle, Berwyn, and Bryn Mawr stops, will be completely rebuilt and will also include new elevators to make the stations ADA compliant. There will be also be a lot of improvements or replacements made to an aging stretches of tracks. In addition, the funds will go to the construction of the Red-Purple Line Bypass (or Belmont flyover), which is expected to cut down on congestion and travel times.
In a nutshell, the mayor told Crain’s that the funding will not only create thousands of new jobs, but it’ll also help spur new neighborhood investment.