Toronto to sell $500 million in billboards to pay for toll booths
The City of Toronto is considering selling $500-million worth of advertising space for its $2-billion toll booth project.
Article Continued BelowThe city is moving ahead with plans to turn the site of the original Yorkdale Mall into a public plaza where people can walk, bike, take public transit, and use free Wi-Fi.
But some residents and critics worry that a new facility will leave some of the city’s most valuable assets at risk.
City council will vote on the plan Monday, and the mayor’s office says the decision will be made in a month.
Toronto is the only major city in Canada that has no public toll booth. “
If it’s not a fair sale for all of us, then it should be a fair deal for the taxpayers,” she said.
Toronto is the only major city in Canada that has no public toll booth.
In Vancouver, for example, it will take a tax from the money collected to pay off the costs of the booths, but it will not receive any tax from tolls.
The city said in a release Monday that it expects to sell a number of advertising spots for the toll booth, including those on the sidewalks, near businesses, in front of schools and in other public spaces.
The city said the site will also be used to sell city-owned space and to provide a space for public art.
A city official said the city is working with industry to find ways to make the site more attractive to new construction.
“We have a lot of space on that site, so that’s one of the things that’s really appealing to us,” the official said.
The plan includes converting a vacant lot on the east side of Yorkdale Boulevard from a parking lot into a plaza.
The plaza would be open year-round and would be the first public space for the city.
The new plaza would also have public restrooms and a fitness center.
In addition to the parking lot, there will be new bike lanes and sidewalks in the plaza.
In a news release, the city said a parking deck will be used for loading and unloading vehicles.
A second parking deck would be used as a temporary public plaza.
The public plaza would have seating for 250 people and be used by the city to provide access to the downtown core and other areas of the site.
The site has a capacity of 2,000 people, and it would be developed with mixed-use and retail uses.
The plaza will also have retail, a pedestrian bridge over the Scarborough Expressway, and an outdoor skating rink.
The City said it is looking to create a new mixed-income community on the site by providing a community garden and the opportunity to bring together a range of residents.
The $2 billion project is expected to be completed in 2020, but construction has been delayed by an increase in the cost of the building materials used to construct the toll booths, which are estimated to cost $6.5 million each.