Toronto’s newest transit project gets green light with provincial, federal funding

Prime Minister Carney announces the federal government has reached a deal with Ontario and the city to fund the $3-billion waterfront transit project.

A $3-billion transit line that Mayor Olivia Chow calls the “missing piece” of Toronto’s waterfront will be built with help from the federal and provincial governments.

All three levels of government announced on Monday the cost-sharing agreement to develop the Waterfront East Transit line.

The 3.8-kilometre LRT track from Union Station to the Port Lands will serve 150,000 people on the waterfront, running from Queens Quay East to Cherry Street, and along Cherry Street and Commissioners Street to the new island on Toronto’s waterfront, Ookwemin Minising (formerly Villiers Island).

“To build more homes, you need more infrastructure that makes cities livable,” Chow said at Monday’s news conference. “Today’s announcement delivers exactly that for our waterfront: a rapid transit line running east from Union serving thousands of homes along the way. This is the missing piece needed to unlock thousands of homes along the eastern waterfront.”

Work on the city’s Port Lands is ongoing and looks to unlock 240 hectares for redevelopment on the former industrial site. The city estimates the transit project will enable more than 75,000 housing units when it’s completed.

Each level of government will contribute one-third of the funding required to finish the project. The provincial and federal governments said they will not be responsible for any cost overruns.

It’s unclear when construction will begin.