[URBAN NOTE] "Port Lands flood protection cost rises to $1.25 billion"

[rfmcdonald]

The Toronto Star's Jennifer Pagliaro describes a proposal for investment in the Port Lands' anti-flood infrastructure that is quite expensive. At least Lake Ontario is not threatened by sea level rise consequent to global warming.

The cost to flood-protect the Port Lands in eastern Toronto, transforming 715 acres into developable land, has risen from $975 million to $1.25 billion.

“Flood-protecting the Port Lands would unlock its great potential for development, for more parks, more public space and for providing room to support the city’s population and it’s job growth,” said Waterfront Toronto CEO Will Fleissig at a news conference Thursday. “This is a transformative opportunity for our city.”

The cost estimate was confirmed by a due diligence report from tri-government agency Waterfront Toronto released Thursday. The study found the probability of the actual cost being $1.25 billion or less is 90 per cent. It is very unlikely the project will costs less than $1 billion.

The increased cost is mostly due to the additional need for soil excavation, soil and groundwater treatment and issues related to flowing sand and compressible peat, which complicates soil excavation and how the land is filled for development.

The three levels of government have already been negotiating cost-sharing of the project, which was made a priority for the waterfront agency 14 years ago.

Neither the federal nor provincial government has committed to fund the flood protection of the largely government-owned land. All three governments did put up $83 million to redo the area around the old Essroc quay, which is a large part of the overall project.