Developers want subways, but not to pay for them

More subway news comes today in the form of a meeting between Rob Ford and 20 some odd real estate developers, who not surprisingly are all for the construction of a subway extension along Sheppard Avenue East. The problem, like usual, is they're not that jazzed about paying for it. And that's the issue in general, isn't it? Everyone would like more subway infrastructure in Toronto, but few are interested in coughing up the dough to get it built.

Here's what Ford had to say about the meeting via the Toronto Star: "They said 'Let's do it. Every single person at the table — I said if you're against it, let us know — not one person, not one developer said we're against it.'"

This is the equivalent of that Forum research poll question that pits subways vs. LRT without any additional context. If money wasn't a factor, subways are the natural frontrunner in debates of this nature. When the financial considerations are put on the table, it's another story.

What was it that Gary Webster said in getting fired? "We don't recommend spending money you don't have on an asset you don't need." Yup, that's pretty much exactly where we remain on this Sheppard subway extension thing, regardless of who the mayor spins his meeting this afternoon.

Photo by Martin Reis in the blogTO Flickr pool