Lost (Waiting) Time
I have done a present value analysis that shows that the cost of each subway/LRT transitional station is well over $1 billion in lost time over a period of 30 years per subway/LRT station when compared with all subway – The cost for an LRT in lieu of a subway connecting the Sheppard subway to Scarborough Centre is as follows:
Subway Capital Cost - $3 billion
TOTAL COST - SUBWAY - $3 BILLION *
LRT Capital Cost - $1 billion
Capital Cost - Subway/LRT Transitional Station at Don Mills and Sheppard – Up to $1 billion
Capital Cost - Subway/LRT Transitional Station at Scarborough Centre – Several $100s of millions
Lost (Waiting) Time Over Thirty (30) Years [Present Value] – At Don Mills and Sheppard Subway/LRT Transitional Station – Over $1 billion
Lost (Waiting) Time Over Thirty (30) Years [Present Value] – At Scarborough Centre Subway/LRT Transitional Station – Over $1 billion
Capital Cost - Subway/LRT Transitional Station at Scarborough Centre – Up to $1 billion
TOTAL COST – SUBWAY/LRT COMINATION – OVER $4 BILLION *
* All in 2005/2006 dollars
NOTE: Figures are based on ridership and lost time in transfers between the subway and the SRT (Scarborough RT) at Kennedy and Eglinton over the past 30 years
Now which would you rather have? – A $3-billion-dollar subway, or a $4-billion-dollar LRT?
P.S. – As proof that I’m not that far off; the cost of the Eglinton Crosstown LRT is approaching (and may even be exceeding) as much as a subway would have cost along that same route!
Also, FYI; my first analology $3 Billion vs $3 Billion did not take into acount the present value of lost time