What happened to the original cost estimate of $555 million including vehicles?
http://www.ttc.ca/postings/gso-comrpt/documents/report/f3138/_conv.htm
Comparing
LRT and Subway Construction Costs
What is the Cost of Building an LRT Line?
Underground: $130 million to $160 million per kilometre
At grade: $30 million to $50 million per kilometre
...including the cost of vehicles.
As Toronto has not embraced LRT construction until the release of the Transit City plan, it is necessary to look at other cities. The summary for each example has had annually compounded inflation added to the actual cost at a rate of 2.5% to make a fair comparison with 2008 dollars. All costs quoted were converted to Canadian dollars using an approximate exchange rate in effect when the line was completed (stated in each case).
Transit City Proposal
$42.6 million per kilometre above ground, vehicles included
$142.8 million per kilometre tunnelled, vehicles included
From the proposal outlined on March 21, 2007 it was estimated that the following would be the costs for each line, including vehicles:
Don Mills: $675 million for 17.6 km, or $38.4 million per kilometre
Eglinton Crosstown: $2280 million for 30.8 km, or $74 million per kilometre
Etobicoke-Finch West: $835 million for 17.9 km, or $46.7 million per kilometre
Jane: $630 million for 16.5 km, or $38.2 million per kilometre
Scarborough Malvern: $630 million for 15.0 km, or $42 million per kilometre
Sheppard East: $555 million for 13.6 km, or $40.8 million per kilometre
Waterfront West: $540 million for 11.0 km, or $49.1 million per kilometre
The Eglinton Crosstown line will have about one third of its route underground, and this accounts for its greater per kilometre cost. Taking the average for all the other lines, we get a cost of just under $42.6 million per kilometre. If we use this figure as the cost per kilometre for 20 km of the Eglinton Crosstown route, the remaining 10 km will cost about $142.8 million per kilometre for the underground portion.
http://lrt.daxack.ca/LRTvsHRT/CostCompare.html