The City of Toronto has announced that the planned rehabilitation of the Gardiner Expressway (#17 on the 2016 Top100 Projects list) will cost more than $1 billion more than originally anticipated.
According to an article from the CBC, a city staff report showed that the cost of the project has risen from $2.57 billion to an estimated $3.637 billion as of August of 2016.
Part of the reason for the cost increase has been the lack of government funding made available for the project. The provincial government is focusing investment on regional transit projects, rather than road transportation projects, and the federal government has yet to commit any funding.
According to Mayor Tory’s comments last week regarding road tolls, the introduction of a toll system for both the Gardiner and the Don Valley Parkway could earn the city approximately $200 million per year to be used on infrastructure construction and renewal projects like the Gardiner rehabilitation.