To achieve the Mayor John Tory-backed vision of a 21-acre park decked over the downtown rail corridor, city staff estimated it will cost at least $1.05 billion to build.

That is a very preliminary estimate ahead of engineering work and a feasibility study for a massive signature park the mayor has staked his name on. That does not include the cost of purchasing the necessary air rights over the corridor from various rail companies.

The staff report to Tory’s executive committee, which meets next week, found that a park stretching 850 metres from Bathurst St. to Blue Jays Way is technically feasible. Staff have yet to do any detailed work on the exact costs or how to pay for it.

They are recommending $2.4 million be earmarked for initial work in 2017, most of which will pay for staffing costs and consultants. It is recommended that $1.2 million of that funding come from a city-wide reserve dedicated for new parkland.

“Today’s staff report demonstrates important progress on this complex project, and reinforces my belief that this park is both entirely feasible and entirely necessary,” Tory said in an emailed statement. “This project has been met with huge support and I am determined to get it done.”

Councillor Joe Cressy, who has pushed for new parkland downtown and whose Ward 20 (Trinity-Spadina) would encompass rail deck park, said the city needs to commit to building new parkland despite other budget pressures including transit.

“It is a significant investment,” Cressy said, stressing the numbers are preliminary based on comparable parks in other cities. “I think we should address all the priorities. These aren’t trade-offs. If we’re a city that is committed to building a livable city and an equitable city then you need to invest in it.”

Staff say they will look at funding options based on the idea that growth should pay for growth, looking at development charges and fees as well as possible donations, sponsorships and government grants, according to the report.

“For a project of this scale and complexity a range of funding solutions will likely be necessary,” the report says.

Staff are also asking for direction to possibly rezone the area as parkland to prevent any encroaching development eyeing the space over the corridor in the quickly growing downtown core.

The downtown core has been identified by staff as one of the most park-deficient areas of the city, with the population expected to double from 200,000 in 2011 to 475,000 in 2041. Staff say that in order to keep up with the desired level of parkland in the core, the city would need to acquire 633 new acres of parkland — or 1.5 times the size of High Park.

Rail deck park, staff wrote, “represents the last remaining opportunity to acquire large-scale parkland in the downtown area.”

In their preliminary work, staff outlined other rail deck park options that would not see a completely decked-over 21 acres. The least expensive would sit just south of Front St. and would see 12 metres of landfill without a deck or impacting rail corridor. That 1.4 acre park would cost an estimated $16.4 million to build.

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A proposed work plan, if council approves moving forward with the park, would be ready by the end of 2017, staff said.

Executive committee meets September 22. Council meets starting October 5.

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