Vancouver’s future subway underneath Broadway is estimated to cost $2.83 billion.

The subway system that will extend SkyTrain’s Millennium Line from VCC-Clark Station to Arbutus Street is the biggest transit project in the Lower Mainland.

TransLink on Monday (April 30) released details of the second phase of a 10-year vision earlier laid out by Metro Vancouver mayors, which involves investments totalling $7.3 billion.

The Broadway extension to the Millennium Line is getting almost 39 percent of the investment plan.

Second in terms of projected costs are the two light rail lines in Surrey, with an anticipated price tag of $1.65 billion.

The second phase of the 10-year vision also includes improvements in SkyTrain and bus services.

“Senior government contributions to Phase Two projects are subject to final approvals from the Province of British Columbia and the Government of Canada,” according to a TransLink media release.

Construction for the Broadway subway is expected to start in 2020. The project is projected to be complete in 2025.

According to a TransLink backgrounder, the estimated $2.83 billion cost for the Broadway subway “may be refined through additional technical analysis, public input and design modifications”.

“The estimate will be finalized at the end of the procurement process,” the material noted.

Procurement for the Broadway subway system is expected to start this year.

The extension of the Millennium Line will proceed from the VCC-Clark Station through Great Northern Way and then to Broadway.

The new line will have six new stations.

“People will be able to travel from Lafarge Lake-Douglas Station in Coquitlam to Arbutus Street in Vancouver in approximately 46 minutes – one train, no transfers,” according to TransLink.

The Broadway extension is forecast to “move about 7,100 people per hour per direction – a capacity increase of 255% more than the current B-Line service”.

In Surrey, one light rail line will connect Surrey Central SkyTrain Station to Newton Exchange via City Parkway and King George Boulevard. A second line will connect Surrey Central SkyTrain Station to Guildford Exchange via 104 Avenue.

According to TransLink, the $1.65 billion estimated price tag for the two light rail lines “may be refined through additional technical analysis, public input and design modifications”.

“The estimate will be finalized at the end of the procurement process,” TransLink explained.

Procurement for the Surrey light rail is expected to start in 2018. Construction is project to start in 2020, with target completion in 2024.

TransLink advised in the media release that the public can provide feedback regarding the plan starting Monday (April 30) to May 11.

A final version of the $7.3 billion investment plan will be presented to the mayors in the region and the TransLink Board in June.