John Tory’s campaign centrepiece was his SmartTrack solution to transit woes in the city. Tory said the project’s total cost would be $8 billion dollars and it would be completed in seven years.
If the project goes forward, the city will hire quantity surveyors—cost consultants for the construction industry—to help keep SmartTrack on time and on budget. Although cost details haven’t been released by Tory, two members of the Canadian Institute of Quantity Surveyors—Joe Pendlebury and Terry Harron —have surmised where they think the money will go. Both quantity surveyors have worked on past and current large scale transit infrastructure projects, including for the TTC.
Attached is their cost breakdown for SmartTrack. The metrics of the cost estimate are based on John Tory’s Official SmartTrack materials, historical data, and professional experience.
The total cost is $7.997 billion and in the attached document is broken down into two sections: A) Capital Expenditures and B) Soft Costs.
Joe Pendlebury is a Fellow and past president of the Canadian Institute of Quantity Surveyors, and senior vice president of RLB CSRP. Terry Harron is Senior Cost Manager at RLB CSRP and acted as Coordinating Estimator for the Toronto Yonge Spadina Subway expansion.