Austin, Texas (PRWEB) July 6, 2009
The Texas Transportation Commission has approved a $31.6 million loan from the State Infrastructure Bank that will help fund a critical piece of the US 290 East (Manor Expressway) project. The State Infrastructure Bank loan will be used by the Mobility Authority to fund right-of-way acquisition and utility relocation on a 1.4 mile segment of the Manor Expressway between US 183 and Springdale Road. This segment, when combined with a new flyover interchange at US 183, will result in greatly improved traffic flow in the area. The completion of both the roadway segment and the flyover interchange is expected in 2013 at a total cost of $245 million.
"The section of US 290 between US 183 and Springdale Road is among the most congested in the corridor," says Mike Heiligenstein, Executive Director of the Mobility Authority. This loan will help us expedite completion of the Manor Expressway project and bridge congested intersections at Tuscany Way and Springdale Drive."
Ultimately the Manor Expressway is planned as a 6.1 mile tolled expressway between US 183 and Parmer Lane just west of the City of Manor. It will also intersect with the SH 130 toll road providing an alternative high speed route between Williamson County and Central Austin. The entire project is expected to cost more than $623 million and will be funded primarily through the sale of toll revenue bonds. Once those bonds are sold the Mobility Authority is expected to pay off the State Infrastructure Bank loan. The project will include non-tolled frontage roads and a bicycle and pedestrian trail.
"These are difficult times and getting the Manor Expressway project moving will bring significant benefits to the community," says Heiligenstein. In addition to creating jobs and promoting economic development, the Manor Expressway will reduce congestion, cut vehicle emissions, decrease fuel consumption, improve safety and enhance the quality of life in Central Texas."
Construction of the flyover interchange at US 183 is expected to begin by the end of 2009 with the remainder of the project to be constructed in phases beginning in 2011.
About the Mobility Authority
The Central Texas Regional Mobility Authority is a local, independent government agency created to improve the regional transportation system. Our mission is to implement innovative solutions that reduce congestion and create transportation choices that enhance quality of life and economic vitality. The Mobility Authority is the state's first Regional Mobility Authority, created in January 2003 to serve Travis and Williamson counties. The Mobility Authority currently operates the 183A toll road in Williamson County and is currently working to extend the 183A project and construct the US 290 East (Manor Expressway) project.