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In Hamilton, certain areas are benefiting from a massive multi-year project to build and expand the city`s transportation infrastructure. This $800 million plan includes a fully fledged LRT system (Light Rail Transit) and the expansion of the GO Train/Bus system.
It is important to note that Hamilton`s Transportation Plan will span over 25 years. For real estate investors this means that they have to focus their real estate purchases in areas where there are `shovels in the ground` and so construction is already well on its way. Astute investors will do well by investigating exactly where the construction activity is and which phases of the construction project have already received final funding commitments from the government.
The Province of Ontario announced its MoveOntario 2020 vision in June 2007, which included two rapid transit corridors for Hamilton. Metrolinx, the Provincial body responsible for the implementation of MoveOntario 2020, completed the Regional Transportation Plan in November 2008. As part of this plan, five rapid transit corridors were identified, which form Hamilton`s `B-L-A-S-T` network. These corridors include:
B-Line ` Main/King corridor, McMaster University to Eastgate Square, Top 15 priority project
A-Line ` James/Upper James corridor, Downtown to Airport, 15 year project
T-Line ` Mohawk to Meadowlands, 25 year project
S-Line ` Centennial to Ancaster Business Park, 25+ year project
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L-Line ` Downtown to Waterdown, 25 +year project
Areas of Priority:
B-Line Corridor:
According to City Officials and Planning Documents, The B-Line Corridor is the first part of the City`s B-L-A-S-T Network and the development activities there are already underway including stations at MacMaster University and Eastgate Square. The B-Line Corridor runs East- West through the downtown area.
A-Line Corridor:
This Line is next on the City`s priority list and would run North-South connecting the Waterfront and the Airport (along James Street). See map below for more details
LTR Benefits to the Community and Real Estate Investors
1. Increase Land Value ` by 8 to 14% within 800 meters of the transit line, especially within close proximity to station areas
2. Create Jobs ` in the initial design and construction stage, as well as in the ongoing operations and maintenance phase. An estimate 6000 jobs will be created during the construction phase and another 1000 long term jobs for ongoing maintenance and operation of the entire system.
3. Attract Private Investment ` to build new neighbourhoods and renew existing ones. According to the City of Hamilton, studies show that LRT supports the local economic development and bring more shoppers to local businesses.
4. Increase potential and concentration of community development ` which will revitalize Downtown Hamilton, resulting in greater increase in property values and greater potential for economic spin-offs
t-size: 10pt; color: black;">5. Stimulate mixed-used, higher density communities ` which will encourage the development of such things as office buildings and high rise residential buildings.
6. Making Hamilton more accessible ` LRT will be within 800 meters to almost 20% of Hamilton`s residents and employment. This will attract more businesses to locate in this area thereby increasing employment and economic activity.
Source: City Of Hamilton - Economic Development Dept, Metrolinx
It is important to note that Hamilton`s Transportation Plan will span over 25 years. For real estate investors this means that they have to focus their real estate purchases in areas where there are `shovels in the ground` and so construction is already well on its way. Astute investors will do well by investigating exactly where the construction activity is and which phases of the construction project have already received final funding commitments from the government.
The Province of Ontario announced its MoveOntario 2020 vision in June 2007, which included two rapid transit corridors for Hamilton. Metrolinx, the Provincial body responsible for the implementation of MoveOntario 2020, completed the Regional Transportation Plan in November 2008. As part of this plan, five rapid transit corridors were identified, which form Hamilton`s `B-L-A-S-T` network. These corridors include:
.5in; text-indent: -0.25in;">
Areas of Priority:
B-Line Corridor:
According to City Officials and Planning Documents, The B-Line Corridor is the first part of the City`s B-L-A-S-T Network and the development activities there are already underway including stations at MacMaster University and Eastgate Square. The B-Line Corridor runs East- West through the downtown area.
A-Line Corridor:
This Line is next on the City`s priority list and would run North-South connecting the Waterfront and the Airport (along James Street). See map below for more details
LTR Benefits to the Community and Real Estate Investors
1. Increase Land Value ` by 8 to 14% within 800 meters of the transit line, especially within close proximity to station areas
2. Create Jobs ` in the initial design and construction stage, as well as in the ongoing operations and maintenance phase. An estimate 6000 jobs will be created during the construction phase and another 1000 long term jobs for ongoing maintenance and operation of the entire system.
3. Attract Private Investment ` to build new neighbourhoods and renew existing ones. According to the City of Hamilton, studies show that LRT supports the local economic development and bring more shoppers to local businesses.
4. Increase potential and concentration of community development ` which will revitalize Downtown Hamilton, resulting in greater increase in property values and greater potential for economic spin-offs
t-size: 10pt; color: black;">5. Stimulate mixed-used, higher density communities ` which will encourage the development of such things as office buildings and high rise residential buildings.
6. Making Hamilton more accessible ` LRT will be within 800 meters to almost 20% of Hamilton`s residents and employment. This will attract more businesses to locate in this area thereby increasing employment and economic activity.
Source: City Of Hamilton - Economic Development Dept, Metrolinx
