If you live east of the Queenston Traffic circle in Hamilton this is great news for you. If you are a transit rider its great news and if you are a home owner in the area, its fabulous news!
The east end of Hamilton has seen a bump in real estate values out performing many areas in the Hamilton area along with the high performing core.
This is primarily due to the new GO station coming to Centennial Parkway near the QEW. Now that the proposed LRT is to extend to Eastgate Mall again, I feel certain we will see another “bump” in prices in the east end.
Taken from From Hamilton For Transit:
Environment Hamilton and Hamilton 4 Transit welcome Eastgate LRT announcement
Lynda Lukasic from Environment Hamilton and Hamilton 4 Transit, welcomes the news that LRT will be approved to go to Eastgate sooner than originally expected:
“As a resident of the area, I can attest to the community support for LRT to come to Eastgate. This area has one of the largest concentration of transit users in Hamilton, and needs high quality transit options. Eastgate is also a major commercial destination in Hamilton and better transit links will improve the neighbourhood’s economy while protecting its environment. LRT will help to transform Eastgate area into a more walkable neighbourhood, which will improve health and quality of life for all residents.”
The reaction to the extension back to Eastgate is being well received and something I believe is a great move forward. Being a natural transit hub should actually be more cost effective than creating a hub at the traffic circle.
Excerpt article 2011, From Don Campbell, R.E.I.N Real Estate Investment Network
The City of Hamilton hopes to turn to light rail technology to curb traffic congestion. The announcement of five proposed rapid transit lines in Hamilton lead the REIN team to undertake a research report on the impacted neighbourhoods.
REIN’s detailed research has found that there are three “Tiers of Impact” that will occur in the Hamilton region:
First Tier: Neighbourhoods located near the on and off ramps to the Red Hill Valley Parkway. These include: McQuestern East and West, Barton, Nashdale, Kentley, Glenview East, Corman, Red Hill, King’s Forest and Albion Falls.
Second Tier: Includes areas that will also be positively impacted by the easier access and traffic flow created by the Highway 8 link to the Red Hill Valley Parkway. This will allow commuters from as far away as Toronto and Oakville to cut key minutes off their drive.
Third Tier: Areas that are within 800 meters of the proposed LRT and GO train stations in Hamilton. These areas will move up to second tier once the official announcements are made as to exact locations, then eventually move to first tier once the actual construction begins. Communities impacted by future LRT lines include: Ainslie Wood, Cootes Paradise, Westdale South, Beasley, Corktown, Kentley, Greenford, Green Acres Park, North Glanford, Ryckmans, Mewburn, Sheldon, Kennedy East, Allison, Greeningdon, Balfour, Bonnington, Yeoville, Rolston, Buchanan, Mohawk, Southam, Centremount, Durand, Corktown, Beasley, Central Hamilton, North End, Ancaster, Mohawk Meadows, Bruleville, Burkholme, northern Crerar, northern Rushdale, Hill Park, Lawfield, Crown Point, northern Homeside, Ancaster, Leckie Park, the Elfrida growth area, Corman, Riverdale, and Winona.
When the LRT stations are completed, communities within an 800-metre radius of these transportation improvements can anticipate a 10%–20% increase in their property values. The largest effect will be felt in older and more established neighbourhoods.
If you’d like to discuss how your home will be impacted in value by the proposed LRT, call or text me at 905-537-6005.
If you would like to discuss the benefits of purchasing a home in this area, contact me.