[quote user=bizaro86] It sounds like he'll be focusing on keeping property taxes low, which is obviously a benefit.
Hi Michael, when I spoke to a VP a Metrolinks, he basically told me the probability of the LRT B-line happening is 50/50. The biggest hurdle is, who is going to cover the operating loss. For example the TTC in Toronto only covers 70% of their expenses and the rest is covered by the tax payers. There are other significant hurdles as well such as needing a new dedicated bridge for the LRT to pass over the highway 403.
Will this affect my strategy? Not really. I've heard it from numerous REIN members from the GTA, KWC, Barrie, and Durham, that you really can't beat the opportunities for cash flow in Hamilton. And delaying LRT will allow us investors more time to acquire property.
I just checked the new Q2 update from the CMHC as well:
http://www.cmhc-schl.gc.ca/odpub/esub/64227/64227_2011_M07.pdf Appears average prices in the Hamilton CMA are up 8.1% from Q2 last year. Food for thought.
My final two cents. Everyone interested in Hamilton should be circling the location of the new station on James North which everyone at the city has told me is a sure thing (again, no $$ announced, don't break ground till 2014). It's directly across the street from Liuna Station... Note there is another planned station in Hamilton on the same rail line at Centennial Parkway.
Hope that helps!
Erwin