Eagle P3 project at a glance
- The Eagle P3 project is part of FasTracks, RTD’s voter-approved comprehensive plan for high quality transit service in the Denver metro region.
- The East Rail Line, Gold Line, Commuter Rail Maintenance Facility and the first segment of the Northwest Rail Line are all included in this project.
- The project is a public-private partnership (P3), which is an innovative approach to efficient project delivery. A Design-Build-Finance-Operate-Maintain (DBFOM) mechanism is being pursued for this project.
- In a P3 project, a private sector investment provides equity to help build capital projects.
- A P3 transfers certain construction and operational risks to the private sector.
- The Eagle P3 project provides up-front private investment of $486 million from private sector.
- P3s allow RTD to spread out large upfront costs and preserve cash in early years; this is similar to the concept of 30-year versus a 15-year mortgage.
- RTD will make availability payments to the private partner for a 29-year period and will retain ownership of all assets.
- The East Rail Line is a 22.8-mile electric commuter rail transit corridor that runs between Denver Union Station and Denver International Airport. Five intermediate stations are included at 38th/Blake, 40th/Colorado, Central Park Blvd., Peoria/Smith Road and Airport Blvd/40th Ave.
- The Gold Line is a 11.2-mile electric commuter rail transit corridor that connects Denver Union Station to Ward Road in Wheat Ridge. It passes through northwest Denver, Adams County and Arvada. There are six intermediate stations at 41st Avenue, Pecos, Federal, Sheridan, Olde Town Arvada and Arvada Ridge.
- The first segment of the Northwest Rail Line included in this project is 6.2 miles running from Denver Union Station to the south Westminster station, at 71st Avenue and Lowell Boulevard in Westminster.
- The Commuter Rail Maintenance Facility will be the site to repair, clean, and store the vehicles that will serve the four FasTracks commuter rail corridors: East, Gold Line, Northwest Rail and North Metro.
- In 2009, RTD released a Request for Proposals (RFP), seeking a private partner for the project. RTD Board selected Denver Transit Partners in June 2010
- Phase I of the project includes property acquisition, construction of the East Rail Line, construction of the Maintenance Facility and control center, the purchase of Electric Multiple Unit (EMU) rail vehicles and the electrical systems at Denver Union Station. Phase I began in August 2010.
- The Eagle P3 project received a $1.03 billion Full Funding Grant Agreement (FFGA) from the Federal Transit Administration on Aug. 31, 2011.
- The FFGA was the final step needed to provide the notice to proceed with construction on Phase II, which includes the Gold Line and the short segment of the Northwest Rail Line.
- The entire Eagle P3 project is scheduled for completion in 2016.
Total Project Funding is $2.2 Billion
- includes $1 billion in federal funds
- includes $486 million in private financing
- Property acquisition begins
- East Rail Line from downtown Denver to Denver International Airport
- Commuter Rail Maintenance Facility and Control Center
- Electric Multiple Unit (EMU) vehicles
- Electrical systems at Denver Union Station
- Gold Line to Arvada and Wheat Ridge
- First segment of Northwest Rail Line to south Westminster
- RTD released Request for Proposals – September 2009
- Final Proposals Received – May 2010
- RTD Board Selected P3 Team – June 2010
- Phase I Notice to Proceed issued Aug. 12, 2010
- Phase II Notice to Proceed issued Aug. 31, 2011
- Opening Day – East Rail Line, January 2016
- Opening Day – Northwest Rail Segment, March 2016
- Opening Day – Gold Line, July 2016