FEDERAL FUNDING FOR TORONTO TRANSIT PLANS GREAT NEWS!
The media are buzzing with news of the Justin Trudeau government announcing a $10.7 billion commitment toward transit projects in the Greater Toronto Area (https://bit.ly/3oaUJ9r ; https://bit.ly/3vXTGfO). According to Infrastructure Minister Catherine McKenna, the funding is intended for the Ontario Line and the Scarborough, Eglinton West Crosstown and Yonge North extensions. In total, the federal commitment is for $12 billion, which includes a new public transportation route/light rail transit line in the City of Hamilton, as well as the purchase of zero-emission streetcars for the TTC.
The benefits of this commitment include creating more than 16,000 jobs and reducing traffic congestion and pollution – all in aid of helping us recover economically. The investment will connect points north, south, east and west across the GTA. Another benefit will be infrastructure to help with increased growth for the City. More access to public transit means even more demand for new homes and condominiums close to those points along the new line and extensions. This is all the more reason to get into the new home real estate market sooner rather than later!