Translink Approves $7.3 billion Phase Two Investment Plan
Yesterday, Translink approved its $7.3 billion Phase Two Investment Plan which includes significantly expanded bus service, new SkyTrain cars and increased service, upgrades to the road network, and preliminary work on a Burnaby Mountain-SFU gondola.
The funding for these improvements will come from a mix of sources, including an up to 1.5 cent/litre gas tax increase.
Transportation and transit continue to be among the top issues for Burnaby Board of Trade members, and Burnaby’s strategic location at the centre of the region with access to highways and two rapid transit lines, is a significant advantage when attracting new businesses to our city.
Read below for a summary of the service improvements and the funding sources.
Phase Two Projects
- 900,000 more hours of new bus service on 75 different routes.
- Two new B-Lines in Richmond and Surrey (In addition to five new B-Lines being rolled out by 2019 as part of Phase One).
- Extension of the Millennium Line with six new stations along Broadway from VCC-Clark to Arbutus Street in Vancouver.
- 40% increase to service on Expo and Millennium lines.
- 203 new SkyTrain cars (108 new, 95 replacement) for Expo and Millennium lines.
- Increased Canada Line service during rush hours, evenings, and weekends starting in 2020.
- Light Rapid Transit
- Construction of Surrey-Newton-Guildford LRT Line along 104 Avenue, City Parkway and King George Boulevard.
- $75 million for rehab and upgrades to the Major Road Network.
- 249,000 additional HandyDART trips.
- Early works
- Project development and early works for the Surrey-Langley Line.
- Planning for a potential Burnaby Mountain Gondola.
- Planning for rapid transit to UBC Point Grey campus.
A majority of the funding will come from the federal and provincial governments. The provincial government has announced an up to 1.5 cent/litre increase to the gas tax applied in the region. The Mayors’ Council has determined that the region’s portion of the Plan will be funded through:
- Increased revenue from ridership growth: $1.6 billion of the region’s share will be funded through increased fare revenue from higher ridership resulting from service expansion.
- Fares: Five to 15 cents increase to adult transit fares, part of a 2% increase to all fares over two years beginning 2020.
- Parking Tax: 15 cents per hour increase for an average $5 per hour parking, increasing the parking sales tax from 21 to 24%.
- Property Tax: $5.50 increase per average household each year or about 46 cents a month, beginning 2019.
- Development Cost Charge: $300 to $600 increase, to the charge on new residential units depending on type of dwelling, relative to the Phase One Plan.
For more information, visit Translink: 10-Year Vision for Metro Vancouver Transportation