The GTA led by John Tory has attempted to make a sizeable investment in infrastructure to meet a growing population and the needs of a modern society.
An example of this is the Metrolinx Toronto Light Rail Transit project (LRT), which will serve to open up areas north of the city, making them more accessible. As construction on the LRT continues, and the proposed Queen subway line moves closer to reality, residents hope to soon receive a return on their tax dollar investment.
Let’s review what this investment could mean for the city.
The Value of Public Transportation
Public transportation helps a city operate. It plays a vital part in the economy because it allows people to get to work and for businesses to thrive commercially. People need to be able to get to every corner of the city with relative ease. Think about how many people go to York University every day or travel from Scarborough to Toronto’s financial district for work.
For decades, Toronto has received a lot of flak for its transportation system, and rightly so. It is far too meagre for the size and complexity of the city. In comparison to New York City’s subway system and the London Tube, it is sorely lacking.
The LRT and new subway lines for York and Queen Street will raise property value for certain areas. Toronto’s east end, for instance, will have additional transportation options to go along with the streetcar, which will help make the area even more appealing to young professionals and families.
This investment should eventually impact Toronto’s waterfront, creating more property value and affordable housing in the downtown area. All this will help people discover more employment opportunities and ensure quicker and less stressful commutes.
Of course, there is value simply in convenience. Having to be outside less in the Toronto winter while waiting for a bus or streetcar is a nice idea for many GTA residents. Ultimately, these projects need to be completed on time and on budget for residents to experience the best value.
We should benefit from this investment in infrastructure within the next five years, and it’s fair to assume that Toronto is changing in a positive direction.