A park proposed for an area downtown above existing rail tracks could cost over $1 Billion, if approved.
“Rail Deck Park”, introduced by Mayor John Tory in August, would be built over the rail corridor covering about 21 acres between Rogers Centre to Bathurst Avenue.
On Thursday, early estimates were made public via a report to city council and says just the deck alone covering the tracks would cost $581 million.
Adding ventilation, landscaping, and other necessary costs would push the price over $1 billion.
That price, does not include air rights which would add to project costs since the current rights are owned jointly by CN Rail, Toronto Terminals Railway, Metrolinx and the city itself.
The Mayor has said even with all the variables at hand, the park is “four or five years away” at best, should it move forward.
The executive committee will receive the report on the potential park project, next week.
— John Tory (@JohnTory) August 3, 2016
— jennifer keesmaat (@jen_keesmaat) August 3, 2016