The problem with true (150+ mph) high speed rail using center medians of freeways are the curves, which were designed for maximum speeds 80 mph or less.
Building a single track or double track railroad line in the center median in rural areas isn't the problem as New Mexico has shown with the Railrunner expansion into Santa Fe. The problem is that high speed trains need larger radius curves to maintain higher speeds.
New Mexico's Railrunner trains maximum speeds are 79 mph.
Railrunner Phase II Cost Allocation by Project Element
1. Stations $16.5 million
2. Track/Signal Improvements $188.1 million
3. Cars & Locomotives $36.1 million
4. Project Development Costs $7.3 million
5. Dispatch/Communications $4.0 million
6. Rights of Way $2.8 million
Total $254.8 million
If this total is added to the $125 million price tag for Phase I, which includes the $50 million for the purchase of the track, plus $20 million for the purchase of the track for the portion between Bernalillo and Lamy, the grand total is $399.8 million.
NMDOT spent $188.1 Million on laying new tracks in the new right-of-way. They built 18 miles of track, therefore spent approximately $10 Million/mile.
Railrunner Phase II uses previously existing track from Bernalillo to the base of La Bajada, a hill south of Santa Fe. Next it runs on newly built track on new right-of-way from CP Madrid, for five miles and then in the I-25 median into Santa Fe for 13 miles, at CP Hondo, where it uses an improved Santa Fe Southern Railway track from I-25 to the terminal at the Santa Fe Railyard.
New Mexico's DOT got lucky, as all the overpasses over I-25 were built like the photo above. No reworking of the bridges were required, but the track grade had to be lowered to get 22 feet vertical clearances above top of rail.