On Friday, the U.S. Department of Transportation (DOT) announced it would provide up to $141 million in a low-interest loan to the Hampton Roads Transportation Accountability Commission to improve regional mobility on I-64 in Hampton Roads, Va.
The loan, provided through the DOT’s Build America Bureau, will be a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan, which the Bureau said helps communities expedite infrastructure projects while reducing costs.
“This project will eliminate a key regional supply chain bottleneck and has vast economic and job creation potential by providing a consistently reliable connection to Virginia’s port system, the third largest on the East Coast,” Deputy Secretary Polly Trottenberg said. “Additionally, the project will enhance safety by improving the emergency evacuation route for the region.”
The $445 million project is part of a 45- mile stretch of express lanes along I-64, the Hampton Roads Express Lanes Network. The project piece, “Segment 4C” will focus on 2.5 miles from LaSalle Avenue to Settlers Landing Road, one of the region’s chokepoints. The project includes constructing one full-time express lane, one part-time express lane and two general purpose lanes in each direction. Once completed the segment will allow Hampton Roads Transit Buses to bypass the general purpose lanes which will speed travel time for riders while lowering carbon emissions.
“Virginia’s innovative financing approach is helping to deliver these overdue improvements at a lower cost,” Bureau Executive Director Morteza Farajian said. “Additionally, with over 80,000 active-duty military personnel at eight installations in Hampton Roads, improving regional mobility is critical to national security.”
Project completion is expected in late 2026, the Virginia Department of Transportation said.