The loan will help fund right-of-way acquisition and utility relocation on a 1.4-mi segment of the roadway between U.S. 183 and Springdale Road. The segment, when combined with a new flyover interchange at U.S. 183, is designed to improve traffic flow in the corridor. The completion of the roadway segment and the flyover interchange is expected in 2013 at an estimated cost of $200 million, $50 million less than previous estimates.

At full build and an estimated cost of more than $600 million, the Manor Expressway will be a 6.2-mi tollway just west of Manor and east of Austin. It will be constructed in an expanded median of the existing U.S. 290 East, and will include three tolled lanes and three non-tolled lanes in each direction, as well as a bike and pedestrian trail. It will intersect with the SH 130 toll road, providing an alternative high-speed route between Williamson County and central Austin.

The project has also received federal stimulus funding for the direct connect interchange. Construction of the flyover interchange at U.S. 183 is expected to begin this spring with the remainder of the project to be constructed in phases beginning in 2011.