Quote:
Originally Posted by WarrenC12
What's the annual boost in property taxes from that land fully developed? What's the ongoing cost of viaduct maintenance over and above road network maintenance?
What's the boost in the Vancouver economy from the businesses that will operate in the area?
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That's a loaded question. What's the difference in the value of
this property with the viaduct eastment, or without it.
Lets say it's half as buildable with the viaducts retained. Judging by the nearby lots it might be worth $300-600M built out. Lets say it's $600M without it, and $300M with them remaining as-is. The difference in annual tax at 0.33% mill rate is about $1M/yr in tax revenue. Concord also has quite a few projects on the go, not having one asset in their "land bank" go ahead for a while probably won't change how much they build.
These numbers don't sound like they're going to pay for a Georgia Ramp plan. If Onni can build build the tallest building in BC around the skytrain guideway in Still Creek, I still don't see why Concord can't do better than that on this site.
The viaducts are also seemlingly in deferred maintenance mode, so I don't think they're spending much on them. There's been some exposed rebar sticking out for a good while now. The replacement plans also had at least 2 bridges being built, so it might be a bit cheaper, but also likely not a huge savings. They're smaller bridges, but still not tiny. The deferred maintenance might catch up with us at some point though.