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With all the politics surrounding these proposed projects, it's hard to know what to believe. The Transit City projects in Toronto had an estimated cost of 50 - 60 million/km for the at grade portion of their LRT lines. Those estimates, I believe, came with road widening, underground connections to the subway stations, and some property acquisition. Then those estimates shot up, Rob Ford was elected mayor (who favours subways) and then Transit City was cancelled.

I won't say I don't believe Translinks 80m/km estimate, but I am very skeptical.