Prime Minister Justin Trudeau was in Surrey today (September 4) to announce, along with Premier John Horgan, that the federal government and the province will fund the Vancouver Broadway subway project and the Surrey-Newton-Guildford light rail transit (LRT) project to the tune of $3 billion.
This funding will cover the majority of the $4.5 billion total cost for both projects. Additional funding will come from the City of Vancouver, the City of Surrey and TransLink.
“Bringing light rail to Surrey will transform the city, connect communities and make getting around the Lower Mainland faster and easier,” Trudeau said. “The Broadway subway will also go a long way in reducing commute times and transit overcrowding and making Vancouver’s SkyTrain even more convenient and accessible.”
The federal government will inject a total of $1.37 billion into the two projects; $888.4 million of this is earmarked for the Broadway project, and $483.8 million will go toward the LRT.
Construction of the subway is expected to take place between 2020 and 2025, and the LRT is set to be built between 2020 and 2024. According to a Province of B.C. news release, the Broadway subway is expected to support 7,190 direct jobs and the LRT to support 3,960 direct jobs.
A breakdown of funding for the total $4.5 billion cost of both projects:
Broadway subway: Total cost of $2.83 billion:
- federal government: $888.4 million
- government of B.C.: 1.82 billion
- City of Vancouver: $99.8 million
Surrey LRT: Total cost of $1.65 billion:
- federal government $483.8 million
- TransLink and the City of Surrey: 1.12 billion
- Additional funding through Phase 1 of the Metro Vancouver mayors’ plan: $43 million.
@EmmaHampelBIV
