Denver RTD releases draft for 2025 Finishing FasTracks Report
The Denver Regional Transportation District (Denver RTD) released a draft of its 2025 Finishing FasTracks Report. The report outlines the agency’s $1.6 billion capital and operating costs needed to complete the transit expansion program that was approved by voters during the 2004 election cycle, as well as the revenue and ridership projections for the four unfinished corridors. The agency says the draft report also examines the challenges that are impacting the project’s full completion, highlights potential new funding sources and points to statewide collaboration focused on intercity passenger rail.
Denver RTD notes Senate Bill (SB) 25-161, Transit Reform, outlines engagement strategies the agency must do before submitting the final 2025 Finishing FasTracks Report to Colorado Gov. Jared Polis and the General Assembly on Dec. 1.
“[Denver] RTD recognizes that this report is the first step in bringing the 20-year-old FasTracks plan to fruition,” said Denver RTD General Manager and CEO Debra Johnson. “The agency welcomes the opportunity to build upon the current momentum of joint rail service planning by working with the governor’s office, Colorado General Assembly and other stakeholders across the Denver metro area to advance discussions about how best to optimize the sustainable expansion of public transport in the region.”
Denver RTD notes the original FasTracks budget was $4.7 billion in 2004. To date, the agency has expended more than $5.5 billion on the program. Since that time, the agency has completed approximately 75% of the FasTracks projects, including 25 miles of light-rail track, 53 miles of commuter rail track and the implementation of the Flatiron Flyer bus rapid transit. Denver RTD says establishing Denver Union Station in downtown Denver with commuter rail and light-rail platforms and an underground bus concourse were also part of the FasTracks program.
According to the agency, there are significant challenges in completing the Northwest, North Metro, Southwest and Central rail corridors. Those challenges include very low growth in sales and use tax revenues that started during the Great Recession, escalating construction costs, increases in raw materials costs and supply chain and labor market challenges.
Denver RTD is estimating that $145 million would be available for FasTracks completion from the FasTracks Internal Savings Account by 2030 based on the proposed 2026-2030 Five-Year Financial Forecast. According to the agency, if the four remaining FasTracks corridors scaled back to include only the Northwest Rail Peak Service and North Metro corridor, excluding the Southwest and Central extensions, the total projected construction costs would be closer to $1 billion.
The agency says state funding from programs authorized by SB 21-260, SB 24-230 and SB 24-184 could potentially contribute toward a limited completion of FasTracks projects by funding up to $296 million towards FasTracks projects between 2026 and 2034. Ongoing funding would still be required for operation and maintenance of the rail corridors, as well as asset renewal.