GRTC Pulse system price tag increases $11.5 million

The cost of Richmond’s new rapid bus transportation system, GRTC “Pulse” rose $11.5 million to $64.5 million last week.

The new price figure is a refined estimate, from the original $53 million, which was made using older price figures. The proposal was last adjusted in November of 2015.

“As a result of increased material cost and market driven cost, the overall cost to complete the project is based on current market value cost, which is higher than the planning level estimate,” said GRTC Pulse spokesperson Carrie Pace.

Pace added that the new cost figure reflects the best available price for the new system.

“The lane construction corporation STV, is the design build team that came in with the best combination of technical store and lowest price proposal of the three competing bidders,” Pace said.

Pace also indicated this cost is inclusive of all the system features reflected in the proposal that city council approved earlier in February.

Gov. Terry McAuliffe played a crucial role in securing a $25 million federal grant, which helped build momentum to approve the project. The state government is also providing $17 million for the rapid transit system, which leaves the city to pay the remaining $7.6 million.

The city council approved the 7.5 mile system stretching from Willow Lawn to Rockett’s Landing beginning October 2017.

Construction is scheduled to begin in late April, and will include 3.5 miles of bus only lanes.

The bus only lanes will eliminate parking on broad, which has caused local business owners to be upset.

Steve Rogge, a manager of Asado Wing and Taco company at Laurel and Broad agreed that the lack of parking will hurt his business too.

“It would certainly take out a lot of the parking we have for our customers, because we don’t have a parking lot ourselves,” Rogge said. “It would be a deterrent I would feel for customers.”

The new cost will be presented to the Commonwealth Transportation Board, which will meet April 19.

Online News Editor, Andrew Crider

Andrew is a junior economics major who has written for student newspapers since he was in high school. Andrew is interested in political history, aviation, photography and running. He has a tendency to refer to his peers, coworkers and bosses as “ma’am” or “sir,” but is getting better about referring to his friends at the CT by their first names instead. // Facebook

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