Waterfront East LRT to receive $3B in funding from feds, province and Toronto

The Government of Canada and the Province of Ontario, along with the City of Toronto announced $3 billion in funding to advance the Waterfront East Transit line.

According to Waterfront Toronto and City of Toronto, the line will serve more than 150,000 people and connect riders to broader transportation networks at Union Station. It will create more than 100,000 jobs and generate more than $13.2 billion in economic value for the country.

The province and the federal government also announced the signing of the Canada-Ontario Partnership to Build. The agreement includes $8.8 billion in federal and provincial funding over 10 years to support housing-enabling infrastructure investments for Ontario municipalities that reduce and maintain low development charges (DCs), as well as a Harmonized Sales Tax (HST) rebate to incentivize new home construction, and co-operation and financial support for a number of major transit projects in addition to the Waterfront East Transit line, including:

• GO 2.0:commit to working collaboratively to increase passenger service along freight-owned corridors across the Greater Golden Horseshoe region, to support improved service along existing GO lines and the potential creation of new GO lines in the Greater Golden Horseshoe.
• Alto High-Speed Rail (HSR): commit to working collaboratively to support the planning and advancement of the Alto HSR initiative that will connect millions of people living along the Toronto–Quebec City corridor.
• Priority transit projects in the Greater Toronto and Hamilton Area (GTHA): execute federal contribution agreements on announced transit projects, including the Ontario Line, Eglinton Crosstown West Extension, Scarborough Subway Extension, Yonge North Subway Extension and Hamilton LRT.

“Waterfront East Transit is about building the future of Toronto. The City has shown leadership by investing in the design of the Waterfront East Transit and working closely with our federal and provincial partners to move it forward. Today’s historic announcement will unlock new homes, connect people to jobs, and support communities along the eastern waterfront. Together, we are delivering a more affordable, caring and safe city for Torontonians.” said Olivia Chow, Mayor of Toronto.

“Our new partnership with Ontario is about building more affordable homes, more transit, and more careers in the skilled trades. We’re tackling the housing crisis from every angle – so we can build up housing supply and bring down costs for Canadians. We’re building Ontario strong and Canada strong,” said Prime Minister, Mark Carney.

“Today’s agreement will be transformational for Ontario and Canada, delivering new homes, transit and infrastructure, and supporting hundreds of thousands of good-paying jobs for Ontario workers. Our government will continue to deliver on our plan to protect Ontario in partnership with the federal government and municipalities by lowering the cost of building, getting shovels in the ground faster, cutting red tape, and investing in workers,” added Doug Ford, Premier of Ontario.

Featured image: (Government of Ontario)