The proposed Rail Deck Park has multiple functions — providing much-needed green public space as well as becoming a connecting area for GO Transit commuters.
This idea was reinforced with an amendment at Tuesday’s executive committee meeting. In addition to recommending staff advance to the second stage of the work plan in 2018-19, staff will also assess opportunities to create “new connections to Rail Deck Park”, including the Green Line along the hydro lands and extensions of the West Toronto Railpath.
Rail Deck Park is expected to be a sprawling 21-acre green space in the heart of the city, built above pre-existing transit lines that stretch from Bathurst Ave. to Blue Jays Way. According to the report presented to the executive committee, it will be the largest downtown park outside of the Don Valley.
“If this growth is to continue, there is a need for significant new infrastructure, including parkland, to ensure the quality of life, health, and sustainability of Downtown neighbourhoods. If this cannot be achieved, it may be necessary for the City to reconsider the pace and amount of future development in the Downtown.”
The cost for the project will be an estimated $1.665 billion, or $83 million per acre. This estimate includes about over $600 million in contingencies. The city plans on taking advantage of Section 42, also known as cash-in-lieu of parkland dedication funds. This revenue is collected from new developments with the sole purpose of developing and acquiring parkland. Not much is known about how the park will be funded other than the city will explore sponsorships, donations, and contributions from other levels of governments.
The city of Toronto is growing rapidly, and the downtown core is in great need of more green space to off-set future development. There is also an advantage of ensuring connectivity by integrating access to GO Rail.
City staff will report back on the financial feasibility of Phase Two in a few months.
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