Yonge Street Subway Opening

The opening of the Yonge Street Subway was hailed as both a local and national success. The impact on the growth of Toronto was profound. After five years of construction, the first line was opened on March 30, 1954, at cost of $67 million. Jack Key, TRREB President in 1966, stated that “this small investment ignited a $10 billion development explosion along the route from Front and York Street to its terminal, Eglinton Avenue. … two-thirds of all new development in a five-year period (after the subway was built) was put in place within a five minute walk from the Yonge Street subway.” (July 1966, Listings)