Toronto is a major rail transportation hub in central North America, with most rail lines owned and operated by two Class I railways, CN and CPR. Both companies operate major yard and intermodal facilities in various parts of the GTA to serve manufacturing and logistics customers. Most waterfront trackage has been scaled back and abandoned in favour of real-estate development, with the remaining main lines in this area being almost the exclusive domain of passenger carriers.
Most freight lines, aside from yard and industrial trackage, also host passenger rail. Toronto is served by inter-city VIA Rail, Ontario Northland, and Amtrak trains through Union Station, a grand neoclassical structure in the heart of the city's downtown, which is shared with GO Transit's commuter trains. GO Transit also owns some of the rail lines it operates upon, however, like VIA and ONR, it usually depends upon trackage rights from the freight railways.
Toronto may soon have its own high-speed rail link from Toronto Pearson International Airport to the central business district, with the proposed construction of the Union-Pearson Rail Link transit route, although this project has not met final approval.