The City of Toronto’s latest Corporate Asset Management Plan finds the municipality has taken a notable chunk out of its infrastructure deficit.

The plan, which is updated annually, outlines how recent strategic infrastructure renewal investments aim to reduce the City’s infrastructure backlog and improve service reliability for residents in the years ahead.

This year’s edition finds that the city has reduced its renewal gap from the $26 billion identified in last year’s plan to $18 billion – a drop of $8 billion.

The city says the reduction is thanks to more than $32 billion in planned investments to maintain and improve infrastructure that were approved in the city’s capital plan.

The $18 billion state-of-good-repair infrastructure gap is primarily driven by transit ($11 billion), Toronto Community Housing ($4 billion), road network ($2 billion) and city facilities ($1 billion).

“Our plan is working,” said Mayor Olivia Chow. “We have taken action to fix more things faster, keeping the City’s vital assets working for residents including roads, bridges, water lines, community centres, libraries and more. Toronto will continue to build, maintain and repair the infrastructure needed for our growing, world-class city. We are stronger together, working in partnership with the federal and provincial government to address the City’s infrastructure needs, especially for transit and housing.”

The City’s 2025 Corporate Asset Management Plan has a broader scope than previous plans, reporting on the future state of city assets, the cost to achieve proposed levels of service to meet growing demand and population growth, includes both core and non-core assets, considers their full lifecycle costs and identifies potential funding strategies.

This year’s report also finds that approximately 80 percent of the city’s assets are in fair to very good condition with a replacement value of $215 billion.

The city has taken several actions to cut its infrastructure deficit, such as by announcing a 10-year capital plan includes nearly $60 billion in infrastructure investments with more than $32 billion dedicated to state of good repair needs

In 2023, the city also negotiated a deal with the Ontario government to upload the Don Valley Parkway and the Gardiner Expressway to the province. The move took the city’s largest single state-of-good-repair liability of its books, and freed up $1.9 billion which has since been allocated to transit and transportation, parks and recreation, Toronto Community Housing and city facilities.

The city also developed a capital prioritization framework to enhance its existing prioritization processes and strategic decisions on when and where to prioritize capital infrastructure investments.

The 2025 Corporate Asset Management Plan will be reviewed by the executive committee on May 13. If approved, will proceed to Toronto City Council for final consideration later in the month.