The total revised estimated capital cost of the ‘hybrid option’ for the Gardiner Expressway is going up by $1 billion, a city staff report reveals.
The report, which will be presented to the city’s executive committee meeting next Thursday, said the renovation project has increased from $2.6 billion in September 2015 to $3.6 billion as of this August.
City council voted earlier this year in favour for the Gardiner hybrid option, narrowly avoiding an alternate plan that would see the eastern part of the Gardiner removed.
The reconstruction effort would see existing Gardiner-DVP ramps removed and realigned to the northern rail corridor.
The staff report attributes the price hike to higher project cost estimates, lack of federal and provincial funding confirmation and other projects affecting the construction of the eastern portion of the Gardiner.
“Taken together, the above-noted issues represent significant pressures on the budget and overall timetable for the implementation of the Plan, and a new implementation approach is being recommended,” the report said.
Construction for the hybrid option would begin in 2019 and is anticipated to be completed by 2026.