Brightline West has a Nov. 2 deadline to make a $400M equity investment for its high-speed rail project between Las Vegas and Southern California.
The projected cost of the project increased from $12B to nearly $21.1B in October of last year. The project consists of a 218-mile rail line, the 200KSF Brightline West Maintenance Facility in Sloan and the Las Vegas Brightline Station.
The station is designed by Grimshaw Architects, while McCarthy Building Companies is serving as the general contractor. The maintenance facility is being designed by HNTB and will be built by The Whiting-Turner Contracting Company.
The 34-mile Nevada portion of the track is designed by Atlas Technical Consultants. The Las Vegas Paving Corporation is the general contractor.
Editor’s Note: The Brightline West project has appeared in several NVBEX articles. Our previous coverage is available here.
The developer is receiving $3.5B in tax-exempt private activity bonds from the U.S. Department of Transportation. Additionally, the Biden administration provided it with a $3B grant.
Brightline is seeking a $6B Railroad Rehabilitation and Improvement Financing loan by the end of October. The low-interest loan has a repayment period of 35 years.
Brightline Florida, Brightline’s sister company, has delayed its own bond payments and may be near bankruptcy. The Florida rail project relied on municipal bonds from the Florida Development Finance Corp.
