Purple Line Estimated to Run by Late 2024 After Legal Settlement
Maryland’s Board of Public Works voted unanimously to a $250 million legal settlement Wednesday that will resume construction for the Purple Line — a light rail that spans from east to west in Prince George’s and Montgomery counties. The project has faced monetary challenges, leaving torn up roads and abandoned construction sites. But now, parties have reached a new solution that will save Maryland taxpayers more than $550 million.
The Purple Line, now valued at $5.84 billion, will be one of the first U.S. transit projects to depend on private financing. As part of the Purple Line Transit Partners, infrastructure investors Meridiam and Star America will be two of the private companies that fund the project. A third company, Fluor, agreed to leave the partnership after Wednesday’s resolution.
As part of the settlement, the state agreed to pay $100 million to the PLTP and a new construction contractor will be hired within the next year.
“The Purple Line is a long time coming, and we have certainly had to overcome some significant hurdles that set us back. But we kept pushing and working hard to keep it moving forward,” Hogan said.
Originally planned to be completed by 2022, the Purple Line is now estimated to be working by late 2024.
Photo courtesy of the Purple Line Transit Partner’s website.
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