Mayors Ford's subway plan would cost $12.4 billion compared to $8.7 billion for LRT plan. The mayor is very foresighted to push the subway plan. A subway system will provide transit solution for centuries, while LRT will have to be changed every couple of decades depending on developments and traffic pattern at the vicinity of the tracks. LRTs are notoriously bad for road traffic. The mayor does not want another St. Clare Avenue West. Rightfully so. If you have driven through St. Clare Avenue West you will find out how much time and gasoline is wasted sitting in traffic jam. It also bad for the environment.
TTC should be ready for the next century. Imagine we are in the year 2112. Toronto's population is double or even triple of what it is of 2012. There are lot more high rise condos in the city. Lot more cars in the streets, mostly electric. Most buildings now have ten floors of underground parking. Lot more people walk the streets. If this is the case, it makes more sense to have lot more subway systems in the city with abundant underground shopping arcades. It not only does reduce traffic gridlocks, it also reduce pedestrian traffic above ground..
Lack of funding seems to be biggest tool mayor's opponents are using against him. Cash strapped province will not be much of a help breaking the gridlock. We should aggressively look into capital market to raise some cash for our subway system. May be, we can sell the entire subway system as units of a Real Estate Investment Trust at the TSX and call it Ford's REIT. The TTC can pay a decent rent to the unit holders for using the tunnel system.
