Funding to complete the second phase of Winnipeg's Southwest Rapid Transit Corridor has been announced.

Parker lands preferred

There are a handful of options the city is considering for Phase 2 of the rapid transit corridor.

Coun. Russ Wyatt told CBC News the city is recommending one that passes just south of the so-called Parker lands.

It is possible some properties might need to be expropriated but it's too early to know, Wyatt said.

The options can be viewed on this map. The preferred one is highlighted in purple.

Mayor Sam Katz along with city councillors Dan Vandal and Russ Wyatt revealed on Thursday that $137.5 million will be set aside in the 2014 and 2015 capital budgets.

The entire cost to complete the corridor, which extend from Jubilee Avenue to the University of Manitoba, is $350 million.

Construction on the new line will start in 2015 with a completion goal of 2018, according to Dave Wardrop from Winnipeg Transit.

That is two years later than the city's transportation master plan had indicated, but Wardrop called 2016 ambitious.

The first phase of that line, from downtown to Jubilee, was completed earlier this year at a cost of $138 million.

The city has also announced it will set aside $1.1 million in the 2013 capital budget to start the eastern stretch of the rapid transit line to the Transcona suburb.

The funding, however, is contingent upon matching partner funding from the province of Manitoba.