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ION Phase 2 - Cambridge's Light Rail Transit
(Yesterday, 09:50 PM)tomh009 Wrote:
(11-18-2017, 04:23 PM)Bob_McBob Wrote: They also think it would dramatically lower property values in Preston if the LRT passes through Huh

That must be based on the collapse of the property values near the LRT in Kitchener and Waterloo so far ...  Dodgy

Ask the average person anywhere in the Region and there's a good chance they won't understand that's sarcasm.
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Sadly, you are most likely correct!
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(Yesterday, 04:35 PM)darts Wrote:
(Yesterday, 12:59 AM)BrianT Wrote: Franklin Blvd. in Cambridge only required 3 complete buyouts, where two residences and a store were demolished. For that length of road, the property impacts would likely be comparable in magnitude, although this is a rail project rather than for a road. The other 90 or so properties were only narrow slivers of land.

Franklin Blvd has a lot more space between the road and businesses/houses than eagle st/ the smaller streets in the residential neighbourhood. I don't think it could be used as a comparison.

Phase 1 in KW is an even better comparison, but they are both good examples of the land requirements for a project like this. There are only a few full buyouts and demolitions. Phase 2 would be similar with mostly minor slivers of land required.
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(Yesterday, 09:56 PM)danbrotherston Wrote:
(Yesterday, 09:50 PM)tomh009 Wrote: That must be based on the collapse of the property values near the LRT in Kitchener and Waterloo so far ...  Dodgy

Ask the average person anywhere in the Region and there's a good chance they won't understand that's sarcasm.

Or they'd complain about how they have to pay higher taxes now that their property is worth more.
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(6 hours ago)greybird Wrote: Or they'd complain about how they have to pay higher taxes now that their property is worth more.

Now this is actually a real complaint.
It's possible to drive someone out of their home through increased property taxes in a desirable area. Being cash poor but house rich is increasingly common in Toronto. Your house may increase in value, but to really access that, you need to sell (or reverse mortgage), which will absolutely feel like a loss.

That said, I'm not sure Preston will see such a dramatic effect for a long while.
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(Yesterday, 09:50 PM)tomh009 Wrote:
(11-18-2017, 04:23 PM)Bob_McBob Wrote: They also think it would dramatically lower property values in Preston if the LRT passes through Huh

That must be based on the collapse of the property values near the LRT in Kitchener and Waterloo so far ...  Dodgy

Sarcasm aside, I assume that any expropriation uses the current value of the property rather than the new value of the property once the infrastructure upgrade takes place.  I could understand that there could be some resentment if property A is expropriated for $500,000, but property B which is identical but not expropriated can be sold for $600,000 the next year due to the improved infrastructure next door.
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Don’t expropriations usually result in the land owner receiving a much higher amount than what their property is actually valued at? I thought that was standard practice.
For daily ion construction updates, photos and general urban rail news, follow me on twitter! @Canardiain
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I thought it was typically lower.
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