The city of Toronto will receive up to $840-million from Ottawa for public transit over the next three years.

Prime Minister Justin Trudeau made the announcement at the Greenwood subway yard.

”This investment is immediate.  Toronto will start to receive the funds it needs to get started this year.”

Mayor John Tory calls it an ”unprecedented commitment.”

”For our city to work and to grow our transit and transportation systems must work and must grow.  So I really do think this is the best investment the federal government can make.”

Tory says the money will likely be put towards the cost of overhauling the signal system on the Bloor-Danforth line, making more subway stations accessible by adding elevators and escalators, and purchasing new buses for some of the busiest routes.