$14 Billion Provincial Transit Plan (Evergreen Line, UBC Line, Expo Line, Canada Line)
Transportation is one of the key economic drivers in real estate. The announcement by the Provincial governement to expand public transport will have enormous impacts in the real estate market in Vancouver as these projects come to fruition. Here is a synopsis of the announcement….
Premier Gordon Campbell and Transportation Minister Kevin Falcon unveiled a $14-billion public transit plan to be completed by 2020. It is a key measure in the Province’s greenhouse gas reduction plan, touching every region of the province.
Premier Campbell, with Transportation Minister Kevin Falcon, unveils an ambitious $14-billion public transit plan to be completed by 2020. The plan will expand transit across British Columbia, and is a key measure in the Province’s greenhouse gas reduction efforts. January 14, 2008.
This $14 billion plan calls for:
- $10.3 billion investment in four new rapid transit lines in Metro Vancouver—the Evergreen Line, the UBC Line, the upgraded Expo Line and the Canada Line (for which $2 billion was previously committed)
- $1.2 billion for a new, cutting edge energy efficient, high capacity RapidBus BC service along nine major routes in the high growth urban centres of Kelowna, Victoria and Metro Vancouver
- $1.6 billion investment in 1,500 new, clean energy buses and related maintenance infrastructure to provide communities around the province with improved bus service
- increased security measures to enhance transit safety and use
Key Objectives
• Increase transit ridership across the province to over 400 million trips a year.
• Reduce greenhouse gas (GHG) emissions and other air contaminants from cars by 4.7 million tonnes cumulatively by 2020.
• Support increased population and employment densities near transit hubs and along transit corridors, changing urban forms, which will further decrease GHG emissions.
• For Metro Vancouver, the transit market share will grow from 12 per cent during weekdays
today to 17 per cent by 2020 and to 22 per cent by 2030.
• For the Victoria Regional Transit System, the transit market share will grow from today’s
seven per cent to 9.5 per cent by 2020 and 12 per cent by 2030.
• For other regions of the province, the transit market share will grow from today’s three per cent
to four per cent in 2020 and five per cent in 2030.
• Ease traffic congestion and make all our communities healthier places to live and easier places
to get around.
• Provide transit riders with access to more buses, more often.
• Upgrade our provincial bus fleet with 1,500 new, clean energy buses and related maintenance
infrastructure,
• Increase the hours of service.
• Create long-term partnerships to maximize taxpayer investments and meet specific needs of
specific communities in cost-effective, energy efficient ways.
• Improve transit rider safety and comfort with improved security on and around transit,
particularly rapid transit, and increase fare compliance.
• Increase seniors’ mobility options and improve services for those with mobility challenges.
Costs for Major Transit Improvements
• $1.6 billion for 1,500 new, clean technology buses to add nearly 60 per cent more buses to the
provincial fleet and provide communities in British Columbia more frequent service to meet
transit users’ specific needs.
• $10.3 billion for four new and expanded rapid transit lines serving communities across Metro
Vancouver – the Evergreen Line, the UBC Line, the upgraded Expo Line, and the Canada Line
(previously committed funding totalling $2 billion for which B.C. is providing $435 million).
• $1.2 billion for new RapidBus BC lines – energy efficient, high capacity buses on nine major
routes in the high growth urban centres of Kelowna, Victoria and Metro Vancouver, providing
frequent, fast, reliable service that looks and feels like rapid transit and operates on dedicated
lane-ways in some cases.
Other Benefits
• Increased security measures such as installing electronic gates and closed-circuit cameras at
rapid transit stations and using a smart-card system for rapid transit and buses that users can
reload at vending machines or on the Internet.
• New, customized solutions for individual communities across the province, including more
HandyDART, community shuttles, conventional buses and other technologies.
Financial Requirements
• $11.1 billion in new funding is required from all partners.
• The estimated provincial share of funding – over 40 per cent of new funding – is $4.75 billion
by 2020.
• Over the life of the plan from now until 2020, the Province is calling on the federal government
for investments of $3.1 billion, TransLink for investments of $2.75 billion, and local
governments for investments of $500 million along with supportive land use.
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