Decades of underinvestment have left the Greater Toronto and Hamilton Area (GTHA) with an inadequate transportation network and one of the longest average commute times in North America – reducing the region’s economic competitiveness, impairing our health and environment, and limiting the amount of time we spend with families and friends.
In May, 2013, Metrolinx released its investment strategy “Investing in our Region” that recommended new revenue generation tools to fund GTHA transportation investment. The Province subsequently formed the Transit Investment Strategy Advisory Panel to support it in the review of, and response to, the recommendations in the Metrolinx strategy. The Panel is due to complete its work by December 15, 2013.
Transport Action Ontario has made a submission to the Panel urging that Rail-Property Co-Development be included as a revenue source in its final recommendations. This approach essentially partners with the private sector to co-develop provincially and municipally-owned lands near rapid transit stations across the GTHA. The approach is similar to the business approach of Build Toronto and Waterfront Toronto, and can raise significant capital financing for rail-based transit infrastructure. It also has the following benefits:
The full submission can be viewed from this link: TAO-RailPropCoDev