Ontario Construction News staff writer
The City of Toronto has made significant progress in closing its infrastructure funding gap, according to the 2025 Corporate Asset Management Plan released Tuesday.
The report shows the city has reduced its infrastructure backlog by $8 billion over the past year — from $26 billion to $18 billion — as a result of increased investment and targeted strategies to address aging infrastructure and growing service demands.
Mayor Olivia Chow, joined by Chief Financial Officer and Treasurer Stephen Conforti and Corporate Asset Management Manager Filisha Jenkins, presented the findings at a media briefing, highlighting a renewed focus on state-of-good-repair work across the city’s vast network of public assets.
“Our plan is working,” said Chow. “We have taken action to fix more things faster, keeping the City’s vital assets working for residents including roads, bridges, water lines, community centres, libraries and more.”
The 2025 plan outlines a broader scope than previous iterations, covering both core and non-core assets — from transit and water systems to community housing and emergency facilities. The plan also considers the full lifecycle costs of these assets and outlines strategies to fund ongoing infrastructure renewal.
The City’s 10-Year Capital Plan (2025–2034) includes nearly $60 billion in investments, with $32.4 billion — or 54 per cent — allocated to maintaining and improving infrastructure. Transit, Toronto Community Housing, roads and city facilities account for the largest share of the remaining $18-billion repair gap.
Key developments highlighted in the report include:
- Approximately 80 per cent of city-owned assets are in fair to very good condition, with a total replacement value of $215 billion.
- An historic $59.6-billion capital budget, up $9.8 billion from the previous plan.
- The upload of the Don Valley Parkway and Gardiner Expressway to the Province, freeing $1.9 billion for investment in other priorities.
- A $758-million federal and provincial commitment for new subway cars on Line 2.
The plan also introduces a capital prioritization framework aimed at improving how the City decides when and where to invest in critical infrastructure.
Toronto’s Executive Committee will review the plan on May 13 before it goes to City Council for final consideration later this month. If approved, it will become the City’s third official Corporate Asset Management Plan, aligning with provincial regulations introduced in 2017.
