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How Will John Tory’s SmartTrack Affect Toronto’s Condo Market?

Posted by admin on June 9, 2014
| Blog
| 0

SmartTrack. Remember that word. No matter who wins the next election, the idea of regional rapid transit lines won’t fade away.

The concept behind mayoral candidate John Tory’s ambitious transit line is simple: use existing railway lines for frequent service like a subway line, but over a larger area and with fewer stops. Electric trains would serve 22 stations over a 53-kilometre route from Mississauga’s Airport Corporate Centre through downtown Toronto and then to Markham.

Why would anyone want to live near a SmartTrack station? Getting downtown would be a quick and easy trip at any time of the day, as well as to 905 employment areas. The service would be reliable with trains running every 15 minutes. SmartTrack stations would also encourage the construction of new education, retail, and recreation facilities nearby—more possible amenities to attract homebuyers.
In Toronto, the SmartTracks line’s effect on condo construction would be significant, if uneven. Some stations like Scarlett or Gerrard would be located near parkland and stable low-rise neighbourhoods and wouldn’t see much new development. On the other hand, many areas have large pieces of land that could be redeveloped with dozens of buildings.

The station at St. Clair West would be located near aging big box stores that offer large pieces of land to build on and would be a quick ride to downtown. The area has the potential to be an attractive city neighbourhood, with quick access to the nearby cafes and boutiques of the Junction and Bloor West Village.
The biggest impact could be in the 905, where Markham would gain a rapid transit rail connection to Toronto for the first time. Markham has been proactive in encouraging walkable neighbourhoods with a focus on condo and office development. The SmartTrack line would further catalyze condo and office development already taking place around Unionville GO Station by providing a quick link to Toronto.
No matter who Torontonians choose as their next mayor, a SmartTrack-style service will remain an intelligent choice to link many neighbourhoods not just to the downtown core, but also to the 905. Getting around town doesn’t have to be difficult. Many areas in the city could be revitalized and redeveloped with this great new transit amenity.

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