The city manager has put an official price tag on the Scarborough subway and it’s even higher than the mayor’s $2.9-billion estimate from last week.
Peter Wallace confirmed a one stop subway extension will cost $3.16-billion and a three stop option would come in at $4.61-billion.
That means the city will need between $1.18-billion and almost $1.3-billion extra to pay for the full Scarborough transit network plan.
Last week, Mayor John Tory said the cost would be about $900-million higher than original estimates, and despite the increased price, he said he intended to get the project built.
“I’ve stood here now for a year-and-a-half and had people tell me all the reasons we shouldn’t do things on a number of fronts,” Tory said.
“I am telling you we are past the point in this city where we can listen to those who constantly repeat reasons not to build transit and reasons we should postpone and debate and study. We’ve got to get on with this – the city needs it, the people need it.”
The price for the original version of the project, a three-stop subway, was budgeted at $3.56 billion.
Wallace said he is recommending he reopen negotiations with the provincial and federal governments on cost sharing.