OREA lists 10 projects needed for continued prosperity
The Ontario Real Estate Association (OREA) has released a report that lists 10 infrastructure projects that it says are needed to generate economic growth and sustain provincial prosperity.
The report, The Ten Infrastructure Projects for a More Competitive Ontario, was prepared for the association in conjunction with KPMG. It outlines those large infrastructure projects that will support a robust economy, and create new jobs and opportunities across the province.
To select the top ten, the organizations looked at economy-impacting projects across all infrastructure asset classes, then assessed them against specific criteria. Each of the selected projects addresses multiple strategic challenges, has a direct link to Ontario’s economic competitiveness, and is both of an ambitious scale, and is conceptual or in early planning stages. They also take into consideration the new ways of working, regional supply chains, and the extraordinary growth of e-commerce brought upon by the COVID-19 pandemic.
“These large infrastructure projects will support a robust provincial economy by acting as magnets for talent and investment, creating a strong cycle of economic growth,” said OREA CEO Tim Hudak. “This allows Ontario to pay for the types of infrastructure and public services that spur productivity and improve quality of life, leading to higher paying jobs, business investment, and more opportunities to increase housing supply and affordability.”
GTA projects dominate
Five of the identified projects are located in the Greater Toronto Area. Among them is the proposed Pearson Transit Hub. The area surrounding Toronto Pearson Airport, dubbed Ontario’s Airport Employment Zone (AEZ), is the second largest employment area in the province, boasting 330,000 jobs, behind only downtown Toronto’s employment cluster.
The proposed Pearson Transit Hub could nearly double that number of jobs by 2035, further increasing the AEZ’s GDP contribution by 2.2 percent.
“Toronto Pearson is Canada’s gateway to the world and an economic anchor for the region,” said Deborah Flint, President and CEO, GTAA. “Improved transit connectivity in the heart of Canada’s second largest employment zone will fight climate change, improve access to jobs, and contribute economically in a growing province. We stand alongside leaders and experts from across the region to support government as they use the transformative power of transit connectivity.”
The OREA report calls on the provincial government to do its part to integrate and advance several existing and planned transit lines into a new multimodal transportation anchor—the Pearson Transit Hub. Currently underserved by transit, this project would cut through the current traffic congestion at Pearson Airport, unlocking the door to the AEZ’s economic growth.
“Lack of transit connectivity and traffic congestion often rank as Ontario’s most challenging economic problem, so we need to address this barrier to economic competitiveness if we want to bring the dream of home ownership closer to more Ontarians,” said Hudak. “With the infrastructure project proposals in this report, we hope to inspire future generations and generate sustained prosperity for everyone, resulting in strong and vibrant communities across the province.”
Other GTA projects listed in the report include a new bypass for GTA freight rail, extending the Yonge subway into York Region, building an Eastern GTA transit hub, and moving forward with Toronto’s rapid transit projects.
Other projects in east, southwest and northern regions
In Ottawa & Eastern Ontario, the report calls for frequent and reliable rail service between Toronto, Ottawa and Montreal. The triangle is the country’s most densely populated region, but travel between the three points is harder than it should be, the report says.
High-frequency rail would address this operational challenge by creating new, dedicated tracks for passenger trains, and making the train more competitive with car travel, and saving travellers and commuters time and money.
In Niagara & Southwestern Ontario, the report calls for a new freeway and modernized border infrastructure for the Niagara Peninsula. Before the COVID-19 pandemic, an average of 1,600 trucks and 5,800 cars crossed the Peace Bridge each day between Fort Erie and Buffalo. Congestion on the QEW, however, is a major strategic challenge. The highway is near capacity and expansion isn’t tenable.
A new freeway would create a supplemental transportation corridor, and enable efficient movement of goods and people.
In Northern Ontario, the report recommends a strategic transportation link to the province’s Ring of Fire. Creating long-distance road or rail infrastructure into the Far North will help to create greater access to abundant minerals in the region, and commit the province to improved relations with its First Nations communities.
Finally, the report calls for two province-wide projects: greater broadband service to close the digital divide between urban and rural communities, and new projects to enhance the province’s clean energy potential.
A list of the projects, with descriptions, is available at top10projects.ca.