The Province of Ontario and City of Toronto have reached a new milestone in their plan to redevelop Kipling Station into a hub connecting subway, light rail and buses across three transit services.

On Tuesday, officials said three companies submitted bids for the project, which is scheduled to be completed by 2019.

The work will include extensive renovations to the station's existing infrastructure, including parking upgrades and improved pedestrian and bicycle access. The station will also feature a new bus terminal, elevated pedestrian bridge and pedestrian tunnel.

Once complete, commuters will have access to TTC subway and bus services, GO Transit and MiWay buses.

"The new interregional mobility hub will make it easier for families, commuters and everyone to get to work, to school and get to their appointments," said Minister of Transportation Steven Del Duca, who was accompanied at Tuesday's announcement by MPP Yvan Baker and TTC chair Josh Colle.

Minister of Transportation Steven Del Duca said the project is "proof" that Ontario is working to improve transit. (CBC)

"A hub like this is significant because it shows people in the City of Toronto that we're building transit," Colle said. "Advancing this project is getting us beyond debate and discussion."

The three successful bidders are a Bird/Kiewit Joint Venture, EllisDon Infrastructure Transit and Kipling Infrastructure Partnership.

The province will evaluate the proposals and announce its choice sometime in 2018.