Virgin Trains rolling into Apple Valley
Virgin Trains USA has acquired property in the newly annexed area of Apple Valley near Dale Evans Parkway for a high-speed rail station that will connect Southern California to Las Vegas.
According to Virgin Trains USA Vice President Bob O’Malley, the project, known as DesertXpress, is expected to break ground in 2020 and could begin moving passengers in late 2023.
Construction of the rail line is expected to bring more than 10,000 jobs in addition to more than 500 permanent jobs that will be created once the line is established. Similar to their southern Florida rail stations, the Apple Valley station is expected to attract transit-oriented commercial and residential development in the surrounding area.
Additionally, California State Treasurer Fiona Ma indicates the project will create more than 1,200 housing units; and O’Malley estimates it will inject $2.13 billion into California’s economy including $275 million in federal, state and local tax revenue.
The high-speed electric train will move passengers from Apple Valley to Las Vegas in about 90 minutes at speeds greater than 150 miles per hour removing as many as 4.5 million cars from traveling 811 million miles on Interstate 15 annually.
Earlier this year, Virgin Trains USA sought support from the state’s Debt Limit Allocation Committee to allow the project to obtain $300 million in private activity, tax-exempt bonds to help leverage additional financing of the project.
In October, the California Infrastructure Economic Development Bank (IBank) approved the issuance of $3.2 billion in tax-exempt fixed rate revenue bonds for the project. It was the largest bond request in the IBank’s history, according to their office.
“This is one of those once in a lifetime projects that will bring jobs and economic growth to not only Apple Valley but the entire Victor Valley region and help expand infrastructure into north Apple Valley, paving the way for residential, commercial and industrial growth at the north end of town along the I-15 corridor in exciting new ways,” said Apple Valley Town Manager Doug Robertson.
For more information, please contact:Orlando Acevedo, Director of Business Development and Communications
Phone (760) 240-7915