Transit Value Capture
  • About
  • Transit Value
  • Capture
Delivering Insights on Capturing the Value of Transit

Toronto election spurs city-wide value capture discussion

10/20/2014

0 Comments

 
According to an article in the Toronto Star, the mayoral race in Toronto is being contested in part based on the candidates' visions for transit. Of note, it seems that the veracity of their proposals has come down to a discussion of the value capture mechanisms they propose to fund their plans. Candidates have discussed using property taxes and TIF districts.

In addition, a Toronto Life article discusses the feasibility of Doug Ford's plan to fund his ambitious transit platform with sales of city-owned properties near proposed transit improvements. Ford suggests that the city's existing land value capture agency, Build, could be the source of funds. However, others disagree.
If history is anything to go by, the odds aren’t good. So far this year, Build has only sold one property, for $3.7 million. In 2013, it didn’t sell anything at all, and actually lost $2.1 million. “There’s absolutely no record of achievement,” says Schulich School of Business real estate professor James McKellar, who attributes Build’s underwhelming performance to political interference.
As has always been the case, Toronto is somewhere that transit value capture aficionados should watch carefully.
0 Comments



Leave a Reply.

    RSS Feed


    Author

    Ian Carlton is a transportation and land use expert specializing in transit-oriented development (TOD). He helps clients - including transit agencies, planning departments, and landowners - optimize real estate development around transit.

    View my profile on LinkedIn

    Archives

    March 2019
    February 2019
    July 2018
    June 2018
    October 2016
    July 2016
    June 2016
    May 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    May 2015
    March 2015
    January 2015
    December 2014
    November 2014
    October 2014
    July 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014


    Categories

    All
    Joint Development


    Special thanks to Burt Gregory at Mithun for permission to use the Portland Streetcar image above.
Picture
ABOUT
TRANSIT VALUE
CAPTURE
Copyright 2008-2022. Ian Carlton. All Rights Reserved.
Photo used under Creative Commons from permanently scatterbrained
  • About
  • Transit Value
  • Capture