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People in the Wizard's castle are starting to look behind the curtains. From today's Sun:
Rob Ford's Sheppard hole: Granatstein
Can the business case be made to build this subway line?
By ROB GRANATSTEIN, EDITORIAL PAGE EDITOR, TORONTO SUN
The man is charge of making the business case for Rob Ford’s Sheppard subway admits the plan may never come to fruition.
“While everybody is optimistic about the building of the Sheppard subway, it could still not go,†said Gordon Chong, who is entrusted by the mayor with leading Toronto Transit Consultants Limited and putting together a business case analysis for Sheppard.
“It will either be yea or nay,†Chong said in an interview this past week.
Chong said pension funds are interested in investing and he’s optimistic, but there’s a real possibility the train is never going to hit the tracks.
Mayor Rob Ford is making the right call by getting the Eglinton line going. Toronto needs another crosstown connection, it needs to get well into Scarborough and needs to bail out the near-death Scarbough RT line.
It also needs to dig west to help the horrible Eglinton West stretch that’s massively overcrowded and underserved.
This is 20 kms of much-needed underground LRT that will operate like a subway.
It will help Toronto move forward, while making use of the tunnel diggers and LRT vehicles already on order — rather than scrapping the orders and paying the penalty.
Ford deserves congratulations for cutting through red tape and making a deal, though expensive, with the province.
Sheppard, though, is a whole different pile of rails.
I love the Ford brothers’ single-minded determination and they are on the right track in a number of positions they’ve taken.
We need to get the private sector and their megabillions involved. The deficits facing the province and feds makes new billion-dollar promises unlikely.
Moving this city away from government-does-best all the time is massively important.
But dad has to know what’s best on the downside, too.
If, as Ford has said, development charges and revenues from property taxes increasing along the route are going to pay for a large part of this subway line, be prepared for density intensification that will make the new skyscraping neighbourhoods west of the dome or at Bayview and Sheppard look like small developments.
Why? It comes down to numbers. This city’s been in the middle of a massive building boom — luxury hotels, condos, condos, condos, and so much more.
Do you know what that’s brought in to city coffers?
According to City of Toronto figures, all that construction has pulled in development fees worth $85 million in 2008, $44 million in 2009, and about $90 million in 2010. That’s $219 million. For the entire city.
The price tag for the Sheppard line? To link Downsview Station to the Yonge subway line and the existing Sheppard subway, then east from Don Mills to Scarborough Town Centre, it’s $4.2 billion.
With those development charges from the past three years you’ve nailed the 0.2 of the total cost.
The hope is the feds will move their $333-million LRT commitment to Sheppard, and the Eglinton line will come $650 million under budget, which can then be transferred to the Sheppard line. That would reduce the cash needed for Sheppard to $3.2 billion.
Plus, a private sector-managed build should be more efficient. But the private sector needs to make a profit. And there’s a lot of risk involved.
How long will it take the pension funds to get their money out? Thirty years? More?
You pay a premium for that risk, too.
Will the people who live in the suburbs along Sheppard be willing to see 30-storey condos and office buildings rise from the existing strip malls by their homes? Because that’s what it will take.
If the Fords can make their plan a reality, Toronto will be changed forever. Hundreds of thousands of people will have much better access to high quality transit citywide, while our roads will not be crowded with street-level rails.
I want to be onside with Ford’s plan. I want to see it work so my kids will have a subway system that isn’t just better than the one from my childhood, but better than the one from their grandparents’ childhood — which is what we have now.
Doing the Eglinton line is a great start to making that happen.
Gordon Chong has his work cut out to determine if Sheppard should be the next piece of the puzzle.
rob.granatstein@sunmedia.ca Twitter: robedits
Rob Ford's Sheppard hole: Granatstein
Can the business case be made to build this subway line?
By ROB GRANATSTEIN, EDITORIAL PAGE EDITOR, TORONTO SUN
The man is charge of making the business case for Rob Ford’s Sheppard subway admits the plan may never come to fruition.
“While everybody is optimistic about the building of the Sheppard subway, it could still not go,†said Gordon Chong, who is entrusted by the mayor with leading Toronto Transit Consultants Limited and putting together a business case analysis for Sheppard.
“It will either be yea or nay,†Chong said in an interview this past week.
Chong said pension funds are interested in investing and he’s optimistic, but there’s a real possibility the train is never going to hit the tracks.
Mayor Rob Ford is making the right call by getting the Eglinton line going. Toronto needs another crosstown connection, it needs to get well into Scarborough and needs to bail out the near-death Scarbough RT line.
It also needs to dig west to help the horrible Eglinton West stretch that’s massively overcrowded and underserved.
This is 20 kms of much-needed underground LRT that will operate like a subway.
It will help Toronto move forward, while making use of the tunnel diggers and LRT vehicles already on order — rather than scrapping the orders and paying the penalty.
Ford deserves congratulations for cutting through red tape and making a deal, though expensive, with the province.
Sheppard, though, is a whole different pile of rails.
I love the Ford brothers’ single-minded determination and they are on the right track in a number of positions they’ve taken.
We need to get the private sector and their megabillions involved. The deficits facing the province and feds makes new billion-dollar promises unlikely.
Moving this city away from government-does-best all the time is massively important.
But dad has to know what’s best on the downside, too.
If, as Ford has said, development charges and revenues from property taxes increasing along the route are going to pay for a large part of this subway line, be prepared for density intensification that will make the new skyscraping neighbourhoods west of the dome or at Bayview and Sheppard look like small developments.
Why? It comes down to numbers. This city’s been in the middle of a massive building boom — luxury hotels, condos, condos, condos, and so much more.
Do you know what that’s brought in to city coffers?
According to City of Toronto figures, all that construction has pulled in development fees worth $85 million in 2008, $44 million in 2009, and about $90 million in 2010. That’s $219 million. For the entire city.
The price tag for the Sheppard line? To link Downsview Station to the Yonge subway line and the existing Sheppard subway, then east from Don Mills to Scarborough Town Centre, it’s $4.2 billion.
With those development charges from the past three years you’ve nailed the 0.2 of the total cost.
The hope is the feds will move their $333-million LRT commitment to Sheppard, and the Eglinton line will come $650 million under budget, which can then be transferred to the Sheppard line. That would reduce the cash needed for Sheppard to $3.2 billion.
Plus, a private sector-managed build should be more efficient. But the private sector needs to make a profit. And there’s a lot of risk involved.
How long will it take the pension funds to get their money out? Thirty years? More?
You pay a premium for that risk, too.
Will the people who live in the suburbs along Sheppard be willing to see 30-storey condos and office buildings rise from the existing strip malls by their homes? Because that’s what it will take.
If the Fords can make their plan a reality, Toronto will be changed forever. Hundreds of thousands of people will have much better access to high quality transit citywide, while our roads will not be crowded with street-level rails.
I want to be onside with Ford’s plan. I want to see it work so my kids will have a subway system that isn’t just better than the one from my childhood, but better than the one from their grandparents’ childhood — which is what we have now.
Doing the Eglinton line is a great start to making that happen.
Gordon Chong has his work cut out to determine if Sheppard should be the next piece of the puzzle.
rob.granatstein@sunmedia.ca Twitter: robedits