Jeff Outhit from the Record, wrote an article in today’s Record that politicians are moving forward with their plans to launch rail transit by 2017 for $818 million.
Counsellor Jim Wideman of Kitchener said, “Any doubts as to whether the rapid transit project is going ahead, there’s proof positive”.
The Regional councillors held 3 votes Tuesday to launch the expropriation of up to 36 property slivers on King Street between Kitchener and Waterloo and on John Street in Waterloo. Also, they voted to hire consultants to begin a site plan for a central transit terminal at King and Victoria streets in Kitchener. Third, to spend $1 million this to buy pay-and-display parking meters and 10 bus shelters in Cambridge in an attempt to increase ridership there. It is part of $10 million dollars that will be spent to boost ridership.
The central transit terminal in Kitchener may see construction begin by 2016. Politicians expect to spend roughly $18 million to acquire property along the entire route. This could result in 15 full buyouts and 150 partial buyouts.
Here is the full story:
http://www.therecord.com/news/local/article/678442–rail-transit-picks-up-steam
This will no doubt increase the value of property near the LRT line and central station. It is best to buy KW investment real estate within 800 meters of the transportation change or station to maximize property appreciation. In 2012, the Arrow Lofts will be largely completed and at the end of 2013 or beginning of 2014 City Centre Condos will be also have occupancy and the LRT will be very close to these KW condos. Many real estate investors have started to purchase KW investment condos because they are close to transit and will be a benefit to their tenants.
