SMARTTRACK CONNECTING HOME TO WORK · 3/26/2015 · SmartTrack is a corridor between three hubs of...
Transcript of SMARTTRACK CONNECTING HOME TO WORK · 3/26/2015 · SmartTrack is a corridor between three hubs of...
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SMARTTRACK
CONNECTING HOME TO WORK Enhancing competitiveness &
resilience in the GTHA
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What is SmartTrack?
After 40 years of under investment in transit,
SmartTrack is a solution to the most pressing problem
in the Region, namely connecting home to work.
As we saw in the Region in Transition video,
SmartTrack is a corridor between three hubs of major
employment.
It’s a surface subway, which connects these
employment hubs quickly, cost effectively, and soon.
It will help alleviate congestion and allow continued
growth of the Region.
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The Yonge Eglinton Centre was the top of the city!
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In 1980, the era of suburban growth began in earnest.
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Currently, 350,000 office workers drive to work daily.
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Region In Transition
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
Population, Employment, & Office Jobs
Population All Employment in the GTA Employment in Office space
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Why are office buildings important?
32%
17%
51%
All Jobs in the City of Toronto
Other Industrial Buildings Office Buildings
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The Value of Transit & Office Buildings
When buildings are located beside high
capacity, high speed transit, there is a
shared value proposition.
Once a building is built, it remains for 80,
100 or more years.
They define the quality of life for all the
people who work in them.
• CONNECTING HOME TO WORK
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Who benefits when transit and office
buildings are co-located?
Both the private and public sectors.
Long after the companies who decided to
construct them are gone, the long term
benefit accrues to transit operations.
One building can contribute 100s of millions
of dollars in ridership benefit.
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The smarts behind SmartTrack.
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The Regional Rail Network (RER)
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SmartTrack is an enhancement of those corridors.
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The Network Benefits
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SmartTrack and Growth
It not only connects to where buildings are today.
It connects where buildings can be built tomorrow
SRRA’s Nodal study…..
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The Nodal Study
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Mixed-Use is the Holy Grail
Intensification is complex, where to put the 3 million new
residents in the same geography and where they will
work depends a great deal on decisions made today.
What are the drivers behind the decision to build Office
and Multi-Residential buildings in the same
environment?
To understand how that may occur we started to ask
employers what they wanted
SRRA’s Nodal study…..
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We asked what are tenants looking for?
Four highlights:
• the creation of just-in-time solutions
• affordability
• access to labour of all types with
reasonable commute times
• connected to places to live
• mixed-use functionality
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What will the office space of the future look like?
The new economy the growing companies of today
will increasingly be seeking out a variety of office
accommodation.
• traditional trophy towers
• mid-sized economical build to suit
• expansion of the repurposing of existing built form
How does SmartTrack Address this?
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What’s next?
SmartTrack is only a proposal.
The Provincial Government and the City of Toronto
have embarked on a collaborative process to
validate its value.
What could it be:
• congestion relief?
• the economic development policy of the GTHA?
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Why are buildings built where they are?
• public policy sets the boundaries
• private developers pave the ground for development
• the market decides where and when
SRRA has been focused on changes to Policy
Which will lead to better City Building Outcomes.
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Finishing the job?
Political commitment to long-term
infrastructure strategy.
• transportation
• land use
• economic development
To create shared public value.
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Questions for Discussion
• land value escalation
• policy to address aligning transit and
development
• political commitment to long-term strategy
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Thank You!
For more information:
www.srraresearch.org
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