The cost of the Scarborough subway will actually top $3 billion once money is set aside for the decommissioning of the aging Scarborough RT, a report from city manager Peter Wallace has revealed.
On Friday, Mayor John Tory announced that the cost of extending Line 2 to the Scarborough Town Centre had risen to $2.9 billion from $2.1 billion following an analysis by city staff.
That number, however, didn’t include the cost of extending the life of the Scarborough RT during construction of the subway extension and eventually removing the line altogether after its completion.
The staff report that was released Tuesday reveals that the actual cost of the project will in fact be $3.16 billion once those costs are added on.
The report also reveals that a planned 17-stop light rail line to the University of Toronto Scarborough campus could cost between $1.58 to $1.67 billion. The initial estimate for that project was $1 billion, however on Friday Tory told reporters that it would cost $1.6 billion.
According to the staff report, the city will need an additional $1.18 to $1.27 billion in funding to build both the Scarborough subway extension and the LRT.
The report recommends that the city have a third-party review the plans for both projects with the goal of assessing “the potential for reduced capital costs.”
