The funding will see 61 affordable-housing units created in London and another 42 in Waterloo Region.

The funding will be used by the institutions to help address their deferred maintenance backlog, and undertake critical repairs and upgrades.

The company signed a 30-year agreement to maintain the line’s rolling stock as well as its wayside track and overhead catenary system. The firm will work as a subcontractor to PPP entity Mosaic Transit Partners Maintenance.

The project calls for three million square feet of redevelopment on the nine-acre Midtown Toronto site, including office and residential towers, retail spaces, community amenities, landscaped open spaces, and improved transit infrastructure.

The 17-member board now includes three representatives from the construction sector.