Many transit construction projects stalled last year, due to the impact of the pandemic on both workers and materials. Now, efforts to reboot the building of dedicated busways, bus rapid transit, and rail and streetcar projects are in motion. In fact, the number of transit construction projects scheduled for completion this year is three times greater then completions in 2021.
Headed To The Finish Line
Although experts urge caution based on the slow pace of completions in 2021, transportation agencies across the country are on the go. As Construction Dive reports:
Transportation agencies in the U.S. are targeting the completion of 22 fixed-guideway transit projects by the end of this year. (Fixed guideway projects include all rail lines along with dedicated bus lanes and bus rapid transit that set aside roadways or portions thereof for exclusive use by buses.) Just seven were completed in 2021. Major rail projects scheduled to open this year include the nation’s first fully automated rail transit line, which will begin service from East Kapolei to Aloha Stadium in Honolulu. Washington Metropolitan Area Transit Authority (Metro), based in Washington D.C., is preparing an 11.4-mile extension of the Silver Line to Dulles Airport in Virginia for passenger service. And the $11 billion East Side Access project will relieve congestion at Penn Station with a new station at Grand Central Terminal in Manhattan.
Ambitious builders across the country are getting in on the action with The Partnership Account for Contractors® from Colonial Surety. As a direct underwriter of bonds based on the strength of financial statements, we give builders power of attorney to issue their own bid bonds. Plus, we provide a rich array of complimentary services, including: direct access to performance and payment bonds on a customized dashboard; real time tracking of bids and work on hand—and immediate access to Colonial’s lead underwriter as new opportunities emerge.
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Light Rail—and Rapid Bus Transit Too
Residents of Boston and Los Angeles are eagerly awaiting completion of light rail projects this year, and San Francisco’s Central Subway is slated for completion too. Experts, including Urban Institute’s Yonah Freemark, point out that enabling more efficient and faster movement by bus is increasingly a priority for cities as well. Dedicated bus lanes are in fact on the rise, and, as Construction Dive reports, nine “bus rapid” projects are in the works for 2022. According to Freeman, other bus projects that could begin to move forward, pending funding, are a 13-mile bus line serving the Flagstaff Pulliam Regional Airport in Northern Arizona and North Carolina’s North-South rapid bus transit system serving Chapel Hill.
Hurry! You Could Be Bidding…
Across the country, contractors are already on the move, leveraging The Partnership Account® from Colonial Surety. In addition to a surety line of credit—in writing, The Partnership Account® gives qualified construction companies:
- Control of bidding and bonding, online and in real time.
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- Direct access to performance and payment bonds on a customized dashboard.
- Real time tracking of bids and work on hand.
- Immediate access to Colonial’s lead underwriter as new opportunities emerge.
- A private Owner’s Dashboard to view surety lines, adjust work and analyze bids.
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Founded in 1930, Colonial Surety Company is a leading direct seller and writer of surety bonds and insurance products across the USA. Colonial is rated “A Excellent” by A.M. Best Company and U.S. Treasury listed.