{"id":1004311685,"date":"2019-03-27T10:38:58","date_gmt":"2019-03-27T18:38:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004311685"},"modified":"2019-03-27T10:38:58","modified_gmt":"2019-03-27T18:38:58","slug":"austins-manor-expressway-project-lands-47m-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/austins-manor-expressway-project-lands-47m-loan\/","title":{"rendered":"Austin\u2019s Manor Expressway Project Lands $47M Loan"},"content":{"rendered":"<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/austin-1579721_1920.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004311733\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/austins-manor-expressway-project-lands-47m-loan\/austin-1579721_1920\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/austin-1579721_1920.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;10&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS REBEL T5&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1460213481&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;75&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.008&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"austin-1579721_1920\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/austin-1579721_1920.jpg?w=800\" class=\"alignright wp-image-1004311733 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/austin-1579721_1920.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/austin-1579721_1920.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/austin-1579721_1920.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/austin-1579721_1920.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Austin\u2019s magnetism lures people and businesses from in and out of state, <a href=\"https:\/\/www.commercialsearch.com\/news\/multifamily-austin-report-winter-2019-ii\/\">accelerating the local economy<\/a>, but also burdening its infrastructure. In an effort to relieve traffic congestion in parts of Travis County, U.S. Transportation Secretary Elaine Chao announced that the U.S. Department of Transportation\u2019s Build America Bureau will provide a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan to the Central Texas Regional Mobility Authority (CTRMA). The loan, in value of nearly $47 million, is for the 290 Manor Expressway Phase III Project.<\/p>\n<p>The project is located in south Austin, at the intersection of U.S. Route 290 and state highway 130, within Travis County. Plans call for three direct connectors in addition to the single existing direct connector, currently owned and operated by the Texas Department of Transportation. U.S. 290 is an east-west commuter, freight route and hurricane evacuation route located entirely within the Lone Star State; SH 130 serves as a north-south commuter route and bypass to Interstate 35.<\/p>\n<p>The TIFIA loan will be repaid through toll revenues from the upcoming project, as well as from four other projects developed by CTRMA: 183A (phase I and II), 290E (phase I and II), SH71 and 183S. The first three projects on this list are already operational, while 183S is expected to begin revenue service around mid-2020.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The project will add three direct connectors in addition to the single existing one, currently owned and operated by the Texas Department of Transportation.<\/p>\n","protected":false},"author":237,"featured_media":1004311733,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21782,21742],"tags":[44900,44897],"class_list":["post-1004311685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-development","category-latest","tag-central-texas-regional-mobility-authority","tag-u-s-department-of-transportation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. 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