There are some fundamentals in real estate values and many of them focus around 'location'.
Location can be specific such as location on a specific block or it can also mean which area of the city or general trends such as proximity to amenities, work, school and transportation.
There have been numerous studies completed that point to the value of real estate in relation to rapid transit such as our LRT system. The REIN Real Estate Investment Network completed one specifically for Calgary in recent years. A powerful voice in the real estate industry, Don Campbell, shares many details in this study that align with those in other cities and the general trends we see everyday. Essentially the value of comparable real estate will be higher closer to the LRT within a walking distance zone to a station than further away from it. Makes sense. If we can get around our city easier we tend to prefer that. Getting around easier, faster and at reduced cost is even better.
Current proposed alignment in detail on the City of Calgary site. -http://www.calgary.ca/Transportation/TI/Pages/Transit-projects/Green-line/map.aspx
Current LRT/Bus system Map for Calgary -
With the current market now in the buyer's advantage and the announcement of the alignment for the green line there is some opportunity to see how these two trends may align. Nothing is written in stone here so until the trains are running we are working on speculation in terms of final alignment, stops and timing. That being said, if you are considering a few different properties and one has a significant future transportation link advantage, you may want to consider that.
Need some help planning your next purchase? Give me a call. I'm happy to help.