Downtown Toronto Relief Line Approved Line

Will This New Subway Line Boost Condo Value in Toronto’s East End?

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The new Subway line in Downtown Toronto has been a major talking point for many years. It is almost unanimously agreed that the downtown core needs improved transit to help with congestion making the proposed Relief Line project  a priority for the powers that be. The City had identified four “corridors” for where the new subway would run and have spent over a year analyzing each one in depth using 50 criteria to identify which would be the best for Toronto. The four corridors connecting Toronto’s Danforth Village to the core were:

  • Broadview to Queen/Richmond
  • Pape to Queen/Richmond
  • Broadview to King/Wellington
  • Pape to King/Wellington
Downtown Toronto Relief Line Four Options
The four corridors that were considered for the new Toronto Relief Line. The red bounding box highlights what Toronto consider to be the “high priority area”

Approved: The Pape to Queen/Richmond Corridor

relief-line-corridor
This is the approved corridor for the new Toronto Subway called the Relief Line. The high priority area connects the Yonge line to the Bloor line from Queen/Richmond to Pape.

On March 31, City Council approved the Pape to Queen/Richmond line as the route for the Relief Line based on the 50 criteria.  It was decided that this particular line:

  • Creates a multi-modal hub into the core and connects the high traffic Financial District
  • Recognizes that Downtown is not just 9-5 and provides a full array of traven needs and destinations including Universities, Hospitals and Public Institutions
  • Spreads out pedestrians from the congested Union Station
  • Compliments other transit initiatives including SmartTrack
  • Would have the lowest Projected Cost

When Will This Subway Happen?

Now that the preferred corridor has been established, public consultation will begin. It will still be several years before the ridership opens, however, once the shovels hit the ground we expect prices for condominiums along the new line to increase dramatically. We saw a similar pattern at Yonge & Eglinton when construction began for the Eglinton Crosstown and prices spiked.

How Does The Relief Line Impact Condo Investors?

We are ALWAYS on the look out for the next big areas for investment and an improvement in Transit is one of the best ways to predict where the next area is going to boom. The Relief Line is one of the most important decisions impacting condo investors downtown. Once finalized, the relief line will be the brand new subway line in Downtown Toronto that will create new transit friendly neighbourhoods.

While we know which corridor has been approved, the actual stops are a work in progress and will be discussed in public consultations in the coming months.

Savvy investors will be ahead of the curve and look for condominium projects in this corridor before construction on the new line begins and prices increase.

Downtown East Desirability is about to Sky Rocket

A new subway line in Downtown East along Queen/Richmond means that there is huge opportunity for investors to identify projects in this area to invest before prices for land and developments increase. Below are a few projects that we have highlighted that will be positively impacted.

River City (Phase 3 & Phase 4)

river-city-largeLocated at Queen & River just north of the brand new Corktown Commons Park, we believe this area is a high potential for having a subway stop very close by.  The River City project is ideally situated nearby the Don River and would also offer quick access to the major Financial District proposal for East Harbour (the old Unilever site).

River City Phase 3 is a 29 storey tower that will become one of the most eye catching condominiums in the entire City.

River City Phase 4 will be the fourth and final phase in the River City series and will be launching this Fall.  The project will stand 11 storeys.

Riverside Square Condos

riverside-square-condos-heroSimilar location to River City, but Riverside Square Condos is east of the DVP where prices are still very affordable.  The brand new, fourth phase of Riverside Square is launching to platinum brokers in the coming days (at the time of writing).  Riverside is part of a multi-phase redevelopment by Street Car Developments and the first few phases have sold out in record time.

Riverside Square Condos latest phase will be available in the coming days.

The Wyatt Condos

The Wyatt Condos is the latest condominium by Daniels in their Regent Park revitalization. The Wyatt will be located one block north of the proposed subway and has the added benefit of being located in one of the largest revitalization efforts in all of North America.

For all other future transit plans for the TTC, check here. If you’re looking to invest in a condo in Toronto, search at TalkCondo and contact our condo experts today for more information on the newly planned Toronto transit upgrades and which condo developments should stand to prosper.

Roy Bhandari