York Region’s 2022 Corporate State of Infrastructure Report highlights Regional owned and operated infrastructure assets with an estimated replacement cost of $25.3 billion, an increase from $19 billion in 2022.
In 2022, 92% of all Regional assets were considered in very good to fair condition, up 3% from 2021.
Changes in inflation trends and improvements to replacement cost evaluation methods have significantly impacted the estimated replacement value of Regional assets. The following increases in reported asset value were driven by these changes:
- Water and Wastewater Services experienced increases of $1.2 billion and $2.5 billion, respectively
- Green Infrastructure Services, which includes a network of Region-owned street trees and forests, along with recreational and supporting infrastructure, experienced a significant increase of approximately $1.2 billion due to improvements in the method of assessing the replacement cost of the York Regional Forest
- Road Services reported an increase of approximately $1.1 billion due to a 22% increase in construction costs
- YorkNet’s total replacement cost increased by $20.1 million due to $11.8 million in new asset construction and $8.3 million from inflationary pressures
- Property Services total replacement cost increased by about $150 million
- Senior Services reported an increase of $3.5 million in replacement cost
York Region tracks, monitors and reports asset condition and assesses reserves annually. Assets listed in poor or very poor condition are prioritized for rehabilitation or replacement.
