TOLL REVENUE AND TRAFFIC STUDY OF HIGHWAY 407 IN TORONTO

Abstract

The Greater Toronto Area (GTA) is one of the fastest growing urban areas in North America, with a population of about 5 million, growing at the rate of 3% per year. Highway 407 (a six/four-lane freeway) in the GTA has been considered for many years as a relief for Highway 401, the busiest highway in North America, which is used by more than 1 million vehicles per day. Highway 407 is being planned and constructed as a toll highway. This paper includes results of a study to estimate Highway 407 future traffic and toll revenues. A GTA mathematical model, within the EMME/2 environment, was used to estimate the travel conditions in the network and the revenue potential under various scenarios of horizon years/network combinations (5), time periods (3), toll levels (8), and toll collection technologies (3). The demand and the toll revenue estimation processes are described. The solutions adopted for the problems of overassignment, the estimation of the value of time, participation rates, and the ramp-up effect are explained. It is concluded that Highway 407 can generate substantial revenues, which might make it a self-financing facility. It will relieve Highway 401 and Highway 7 from part of their volumes and will decrease travel time for its users and some of the nonusers. It will also decrease travel time variability, improve accessibility to Pearson International Airport, and create jobs. On bad-weather days, some of the benefits are expected to increase.

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