Aterio logo

TJPA CELEBRATES $3.4 BILLION FEDERAL COMMITMENT FOR THE PORTAL: Project advances to Engineering Phase

Create a free account and get access to the full investor alert

It takes 1 minute to sign up and get access to the best content on the block.

  • The Transbay Joint Powers Authority (TJPA), along with key public officials, celebrated a $3.4 billion federal funding commitment to The Portal, a project to extend Caltrain’s rail system to the Salesforce Transit Center in downtown San Francisco. - This funding, combined with $500 million from the Biden-Harris Administration's FY2025 Budget Proposal, covers two-thirds of the project's total cost, aiming to connect 11 transit systems in the Bay Area and bring the California High-Speed Rail system to its northern terminus. - Leaders such as Speaker Emerita Nancy Pelosi and California Senator Scott Wiener highlighted the project’s benefits for commuters, local businesses, and environmental sustainability, deeming it a significant step towards a multimodal transportation network. - The project will not only enhance regional connectivity but also provide substantial job opportunities, with local tradespeople set to build key infrastructure, thus supporting long-term economic growth.
Read more