The plan for Phase 2 of Winnipeg's bus rapid transit (BRT) has picked up speed with a multi-million-dollar funding announcement on Monday.

The federal government will provide up to $137.3 million, while the Province of Manitoba and City of Winnipeg will each contribute $225 million.

An artist's drawing of the rapid transit buses. (City of Winnipeg) The funding will help extend the Southwest Transitway from Jubilee Avenue to the University of Manitoba. The corridor currently runs from downtown to Jubilee.​

"​Stage 2 of the Southwest corridor and the expansion of the Jubilee underpass are important infrastructure projects that will serve Winnipeggers for years to come,” said Mayor Brian Bowman, adding the source of the city's share of the money must still be determined.

That will be revealed in the budget, which is expected to be tabled early next month. Construction will begin in 2016 with a completion date of April 2020.

Monday's funding announcement was made at the Balmoral Station bus terminal in downtown, near the University of Winnipeg, by Bowman along with Minister of Canadian Heritage Shelly Glover and MLA Kevin Chief, Manitoba's minister responsible for the City of Winnipeg.

"Our growing city needs a modern, efficient public transit system to make it easier to get to work, school or the world-class shopping and entertainment options across Winnipeg," said Chief.

Quick facts

The project will: