LRT vs Subway – Both May Work for Your Business

Thinking about finding a location for your business?  There are a number of benefits to locating your business near a Subway or near an LRT line.

Ask any business owner what they want out of their office space and you’ll usually hear that they are looking for, “a space that helps generate more business.” What some business owners might not recognize is that the location of the office space is key to increasing their profits.

Toronto Councillors debated between extending the Scarborough LRT or converting it into to a subway – the issue? The costs for each project are significantly different. The LRT is expected to cost approx. $1.99 billion, while a subway system is expected to cost approx. $3.56 billion.  The subway solution was adopted.

There are a number of Torontonians who feel that a subway would be more economically beneficial than an LRT.  The 5.5 km Sheppard Subway, has spurred over $1 billion of construction of new housing in only eight years, including several high-rise condominium towers.  This has brought new potential customers into the area. However, some studies have shown that subways, especially stations that are spaced far apart (as on the Sheppard subway line), can actually hurt local business by discouraging passengers from getting off to shop and dine.

The approved 19 km Eglinton LRT is expected to deliver approx. 18,000 jobs by the end of this decade.  However, the pain of construction may be felt for a time before the benefits of the new construction are shown.  The city hopes to revitalize the Eglinton West sector with new developments in the neighborhood and a fresher look, with new sidewalks and better parking.

Some of the most popular (both residential and business) properties in Toronto are those near a subway or rapid transit station.  This is because they have a large population of customers flowing through the area.

Is the LRT or a Subway better for the City?  Is it better for your business? Regardless of whether or not the city goes with Subways or LRT transit (or some combination of both), there is ample opportunity to place your business near a transit station, and I can help.

Sources

The Toronto Star
The Torontoist
Toronto.ca
GetTorontoMoving.ca
Toronto Environment
The Toronto Star
The Toronto Star
Inside Toronto
PostCity.com