Wes Edens Brings Bightline Rail Project to the 1-Yard Line.

Wes Edens, a co-founder of Fortress Investment Group, is proud to share that the company owns the popular Bightline Rail Project and believes they’re closer than ever to making their ambitious project a reality. The rail line is looking to extend into Los Angeles and gain approval! Edens noted, “We are close to reaching our goal; only 1-yard remaining.” when pushing over the top. According to him, the company was granted the right of way in and around Interstate 15 for the project. Passengers can connect from Las Vegas to Rancho Cucamonga, California, and Los Angeles through Metrolink.

Eden has acknowledged the efforts of political leaders and transportation advocates from California and Nevada for enabling such an impressive feat, noting how far this project has come since it began over a decade ago. Trains on this system will reach up to 180 mph, boasting around four train stations and zero-emission electric trains, with trips between two destinations taking only 35 minutes. The total distance between Los Angeles and Las Vegas would be 260 miles, with an estimated travel time lasting about 3 hours. Such an extension can be challenging, though, with estimates projecting that this project may cost up to $8 billion.

Visit: https://www.forbes.com/profile/wesley-edens/

In hopes of funding such a high cost, Brightline has requested the issuance of private activity bonds from Nevada and California, which granted Brightline $200 million & $600 million, respectively, along with an additional $1 million awarded in 2020 by America’s U.S. government forces. According to IRC Guidelines, Brightline could sell up to four times more tax-exempt bonds than what was granted, amounting to roughly $3.2 billion, before abruptly pulling their offering due to harsh market conditions caused by the COVID-19 pandemic.

Despite having some concerning economic blowbacks along their path toward completion, Wes Edens remains optimistic about their ambitious project getting underway by the end of 2021. With them currently standing at “1-yard lines,” hoping that the final push towards breaking ground happens sooner rather than later.

Know more about Wes Edens on NBA