When considering the Yonge North Subway Extension, the question is, are we keeping up with growth in York Region – or catching up to it? This is the second blog in a series that will help our communities get more familiar with the Yonge North Subway Extension and highlight some of the important reasons why York Region needs this critical project.
The truth is that Yonge Street is growing fast north of Finch, with high-density residential and commercial developments both in the works, and planned, for the near future. The growth, and its pace, is already enough to sustain a subway extension.
Which means, we already need to catch up – and keep up! The Yonge North Subway Extension [YNSE] will support the number of people, businesses, jobs and housing in York Region and the Greater Toronto and Hamilton Area [GTHA]. From the beginning of the construction stage through opening, it will bring new jobs and businesses, and attract residents and employers.
York Region is one of Canada’s fastest-growing large urban municipalities, forecasted to reach a population of 2.02 million and employment of 990,000 by 2051 [York Region’s Municipal Comprehensive Review, 2021).
In anticipation of the YNSE, the corridor is already seeing growth, with 19 residential developments including over 19,779 units and 550,000 square feet of commercial/retail space already proposed or underway as of the end of 2020.
This already high demand is sure to increase even more, with the Yonge North Subway Extension connecting two GTHA employment megazones: Vaughan and Markham: 654,650 jobs and 54,200 employers as of 2019.
Large infrastructure projects like the Yonge North Subway Extension can take 10 years to complete, so it should be built in parallel with other rapid transit projects over the next decade.
As we work through the processes of design and approvals, we need to ensure the YNSE and other rapid transit projects continue moving forward.
Looking ahead, we will further explore other key areas of Deloitte’s federal submission report, highlighting other important benefits that come with investments in critical projects like the Yonge North Subway Extension.
With investments in the YNSE and other rapid transit projects, we’ll be able to catch up to the demand that’s already there and prepare for the future.