The Ontario transit agency, Metrolinx, has recently announced its plans for four additional stations in the following areas: Osgoode, Moss Park, Corktown and Queen. Osgoode & Queen Station will form a connection point for the existing line 1 subway, while the Moss Park and Cork Town will serve as the first Subway service in the east end of downtown Toronto ever.
The new Osgoode station will be help connect those at the intersection of Queen Street West and University Avenue and will be built under the current line 1 Osgoode station. An estimate that by 2041, it is expected that there will be 16,500 residents alongside 110,500 jobs will be located within the vicinity.
The new queen station will be very similar to the Osgoode station mentioned above. This station aims to handle the 16,600 people that expect to use this brand-new station during peak hours. This station is expected to be walking distance of over 18,400 residents and 150,000 jobs by the year 2041.
Metrolinx has stated that they will update all 7 existing entranceways for Line 1 passengers to hop aboard the Ontario Line Station.
Will be located on Queen Street East, right nearby Sherbourne and will give over an estimated 23,600 people that are expected to live within walking distance there by 2041. The station will stand at the edge of the park. Metrolinx plans on working with the city of Toronto to revitalize the parkland to make sure that this station beautifies the land.
The new Cork Town station will be south of King Street East on Berkeley which will replace a current Staple’s store and some other nearby buildings. The plan for this one is to not impede on traffic on King Street. The hope for this is to become the home of a future transit-oriented community.
Together, these four stations are expected to serve 84,900 local residents, 299,400 jobs nearby and 16,800 transfers during TTC peak times.
For condo owners with property near the areas above, these properties have their expected future value risen. With huge investments made in the local area, especially in transportation makes for the area to more desirable. Many pre-construction condos are expected to begin development soon around these areas so these could definitely be worth looking into as these areas continue to grow and develop and could make for a great investment in the long term.
Interested in owning a condo near one of these newly planned stations? Check out CondoTrend for the latest pre-construction condos!
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