It’s a now-or-never opportunity, according to Toronto’s Mayor John Tory. Now the multi-million dollar park could be closer to reality. Tuesday, the Mayor’s Executive Committee voted unanimously to move to the next step. It will head to City Council next week for review. Councillor Joe Cressy is positive this will be a step in the right direction.
“We now move into stage two, which is to move towards 30-per cent design as well as the purchase of the air rights. With today’s vote we are on the path to building the rail deck park and to have construction begin within the next five years”.
The “Rail Deck Park” would take up roughly 20-acres, one of the largest downtown parks outside Don Valley. This would be constructed in the Union Station Rail Corridor, between Bathurst Street and Blue Jays way. The idea is something that Mayor Tory says will attract all sorts of people. “It will be a business magnet, it will be a tourist magnet, it will be a resident magnet from across the city, people will come”.
The total preliminary costs are estimated at $1.66 billion or approximately $83 million per acre. A city report says the Rail Deck Park will be an investment to support future growth in Toronto. Councillor Cressy believes with the endorsement on Tuesday there is continued interest in this project.
“I think there is a recognition from north to south and east to west in our City that not only is there a need, there is a huge opportunity to create a new central destination for our city”.
If it does get approved, the next stage would involve several steps. This includes advancing a more detailed design and public engagement.