New subway line announced.....Real Estate Opportunity?

[ESPNGuy]

With the new subway expansion announced and scheduled to be completed by 2020 does anyone think there may be some good oppertunites to buy some Real Estate in particular areas that will end up having TTC stop or subway right at door step?

Im just thinking anything along Eglinton/Sheppard should be gold

I always find myself looking at homes so close to subway stations along the Danforth and think to myself these people won the lottery just because they had a house near a subway either by fluke or planned

You would think you should be able to estimate where the stations should be placed within reason

What do you think?

 

[EXgeMMy]

I think we have a speculator.

I bet a lot of people thought the same thing when transit city first got announced.

 

[W. K. Lis]

There are already building condos along Sheppard, but just east of Dufferin Street, with construction here and there until Bathurst. Most likely most will wait until they actually see station and tunnel construction.

 

[Eug]

My response is in the real estate bubble thread here.

It could be too early for some of the residential areas already existing. If you really want to speculate, I think the real money will be made buying up empty commercial spaces in regions where rezoning to mixed-use residential-retail is possible and likely... and then build great big condos.

The problem with the latter is you must be prepared to lock up that money for decades. Remember, the Eglinton line isn't even scheduled to finish until 2020, and even after the subway is built, it usually takes many, many years after that before the region is built up.

 

[Edward Skira]

2020 is only nine years away. If you have the money buy everything you can near the new stations. There's going to be a lot of money made along Eglinton.

 

[W. K. Lis]

Transit City had the Eglinton Crosstown underground from Keele to Laird. Transit City also had completed the Environmental Assessment for the Eglinton Crosstown.

Rob Ford's Eglinton Crosstown version has it underground from Keele to maybe Kennedy. However, there is no EA completed east of Laird for any underground section.

However, since there is an EA completed for the underground section of the Eglinton Crosstown that can be used for Rob Ford's version, there will be construction for that section, only, at this point in time. Which means any real estate between Keele and Laird will have the benefit ahead of any other vision.

 

[TCW]

There are so many older buildings along Eglinton. I think you may have a few nice pockets that develop into hotspots, but the majority will not see any major effect.