In public infrastructure funding shake-up, Ontario strikes private sector deal for new GO train station
October 25, 2018 by David Kennedy
TORONTO—A private developer will foot the bill for major renovations at a Toronto-area GO train station under a new—though still non-binding—agreement with the Ontario government.
The Mimico GO Station, on the west end of the city, will be entirely overhauled as part of the deal, while developer and construction contractor the Vandyk Group of Companies will get the right to develop above the station.
The two parties signed a letter of intent Oct. 25, though they released no details about the cost of the station upgrades or specifics about the development.
“Bringing a new station into a community at little or no cost to the taxpayer is something that has great potential,” Metrolinx President and CEO, Phil Verster, said in a statement. “It also makes good business sense.”
The Ontario government pointed to the deal as a “new kind of partnership” that will leverage government-owned land for the benefit of both the public and the private sector partner.
Assuming the province and Vandyk are able to firm up the LOI, the overhauled Mimico GO Station, which is located adjacent to the fast-growing Humber Bay Shores neighbourhood, would include a new station building, pedestrian tunnels, elevators, below-grade parking and refurbished platforms.
The province said Metrolinx and the developer are currently negotiating the contract.