A new estimate from Hampton Roads Transit says extending the Tide light rail from Newtown Road in Norfolk to Virginia Beach Town Center would cost almost $80 million less than earlier projected.
All told, the project, which includes the design-builder light rail estimate, utility relocation, right-of-way, rail and support vehicles and professional services would cost $243.1 million, Hampton Roads Transit announced Monday morning. To date, engineers have completed 30 percent of the plans for the project and HRT based its presentation on those completed plans. The cost estimate comes from a 15-month evaluation and collaboration among the cities of Norfolk and Virginia Beach, HRT and the Virginia Department of Rail and Public Transportation, among others.
The state has said it will commit $155 million to the project, and Virginia Beach would be responsible for the remaining $88 million. Deputy City Manager Thomas Leahy will brief Virginia Beach City Council on the 30-percent design-cost estimate Tuesday.
