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The Chicago Transit Authority (CTA) board yesterday approved a $180 million contract with Paschen Milhouse Joint Venture IV to engineer, design, and build new passenger terminals at the 95th/Dan Ryan Station.The contractor will replace an old bus and rail facility at 95th with an expanded, modern facility, CTA officials said in a news release.Additionally, the project will include improvements to the tracks south of the 95th Terminal to the 98th Street Yard, which stores Red Line trains and maintenance facilities. The work includes replacement of track and all elements in the right of way, including a complex interlocking, signal and traction power cabling and duct banks, ballast and other related materials.Aimed at promoting economic opportunity on Chicago's south side, the project marks one of the largest rail station projects in CTA history, agency officials said. Slated to begin in spring 2016, the passenger terminal work follows extensive foundation and related construction that began in 2014. To make way for the new north and south terminals, the CTA over the past 16 months has overseen $26 million in advance construction work, such as performing utility prep work and relocating expressway signs and lights.Currently, more than 20,000 rail and bus passengers travel through the terminal each day. The south terminal is expected to open in 2017, while the north terminal will open in 2018. Funding for the entire $280 million project is provided through federal, state and local sources.Paschen Milhouse's winning bid also includes a 27 percent disadvantaged business enterprise commitment. Milhouse Engineering & Construction Inc. will contribute civil/bridge engineering, electoral engineering and construction expertise.CTA will help coordinate outreach events with the contractor to help identify certified DBE vendors that could work on the project.