Item - 2026.TTC16.7

It is recommended that the TTC Board:

1. Authorize execution of an Entrance Connection agreement for a new connection at 2200 Yonge Street, and any other agreements arising as a result of the entrance connection, all on terms and conditions acceptable to the TTC’s General Counsel.

2. Approve deferring the calculation and application of the entrance connection fee for the reconfigured entrance connection to Eglinton Station at 2200 Yonge Street to a future Board report, which will also outline other amendments to the 2018 Lease Amending Agreement, allowing the TTC to develop an updated fee that is appropriate to the Master Development Plan currently being revised by the building Owner.

OPG Investments Holdings GP Inc., as general partner for OPG Investment Holdings Limited Partnership and CT REIT (Yonge Eglinton) GP Corp., as general partner for CT REIT (Yonge Eglinton) Limited Partnership (collectively the “Owner”) are renovating the existing 17-storey building at 2200 Yonge Street and demolishing the existing Bank of Montreal glass pavilion at 2210 Yonge Street. This is “Phase One” of the overall redevelopment of the site on the southwest corner of Yonge Street and Eglinton Avenue. The renovations to 2200 Yonge Street will include the construction of a new integrated accessible entrance connection, with a new elevator providing access between street level, the existing station concourse, and the platform level. Two new fare lines and a new stairway from street level to the existing concourse level will be constructed to replace a stairway being demolished. The existing TTC escalators, currently located within the glass pavilion at 2210 Yonge Street, will remain in place and will be housed in a future standalone structure to be constructed by the Owner.

Since the Owner is seeking to proceed with demolishing the 2210 Yonge Street glass pavilion as soon as possible, this report is seeking the Board’s approval to enter into an appropriate entrance connection agreement for the reconfigured entrance connection within 2200 Yonge Street, facilitating construction planned to begin in Q4 2026, with projected completion in Q1 2028. The work will occur in phases to minimize disruption to customers. Minimal impacts are anticipated for customers using a non-accessible path as the proposed new stairs and fare line will be constructed and opened prior to the existing stairs being closed to ensure access throughout construction. However, the existing elevator from concourse to platform levels will be unavailable while the elevator shaft is extended to street level. During this phase of construction, signage will direct customers to alternative accessible paths located in the Line 5 Eglinton Main Entrance at 15 Eglinton Avenue West, the building at 2 Eglinton Avenue East on the northeast corner of the Yonge and Eglinton intersection, and the southern entrance to Eglinton Station off of Yonge Street at 2190 Yonge Street.

Terms regarding the overall Phase One of the development, including costs associated with the reconfigured entrance connection, are captured within the Lease Amending Agreement approved by the Board on April 16, 2018, as noted in Attachment 1. At this time, the Owner is revising the Master Development Plan for the southwest corner of Yonge and Eglinton, which will necessitate an amendment to the 2018 Lease Amending Agreement and require future Board approval, as explained below in the Background and Analysis section. This report also seeks to defer the calculation and application of the entrance connection fee to a future Board meeting, once the details of the Owner’s revised Master Development Plan are finalized, at which time the TTC can apply an updated fee that is appropriate to the updated proposal and current market conditions.

There are no financial impacts associated with the recommendations in this report as the entrance connection work will be carried out at the Owner’s sole cost. The ongoing operations and maintenance responsibilities of the entrance connection will be negotiated with the Owner in consultation with TTC stakeholders and will be set out in the entrance connection agreement. As a result of the works to be completed by the Owner, the TTC will no longer be responsible for designing and constructing an elevator at the north end of Eglinton Station that goes from platform to street levels.

The Interim Chief Financial Officer has reviewed this report and agrees with the financial impact information.