CUI in the News: LRT benefits will need revising to account for 5 year housing boom

The article found on CBC Hamilton, references a 2010 Canadian Urban Institute study Building Momentum: Made in Hamilton Infrastructure Solutions.

Excerpt:

"In a 2010 report, the Canadian Urban Institute projected tens of millions in development and new tax income f the province built an LRT line through the lower city. On Tuesday, the province pledged $1 billion to build a line along King Street from McMaster University to the Queenston traffic circle. A spur line will run to the new James North GO station.

The report assumed that 108 developments will happen over 15 years along the LRT corridor, 76 more than would happen otherwise. Sixty per cent would be residential. That would bring $22.4 million in new taxes and $30.2 million in development charges and building permit fees. And there would be a bump-up in assessment from increased property values along the route of an estimated $29 million."

Read the full article here:

http://www.cbc.ca/news/canada/hamilton/news/lrt-benefits-will-need-revising-to-account-for-5-year-housing-boom-1.3091499