Why light rail is an investment worth making
LRT will stimulate our economy by:
- Increasing land value by 8 to 14 percent within 800m of the line and particularly within close proximity to station areas
- Increasing assessment value as high value, high density, mixed use land parcels can produce higher assessments which help to pay for the capital and operating costs of the system
- Creating jobs in the initial design and construction stage, as well as in the ongoing operations and maintenance phase. It is estimated, that approximately 6,000 jobs would be created due to construction expenditures combined with over 1,000 ongoing jobs due to regular operations and maintenance.
- Encouraging urban development:Â permanence of the LRT line allows both riders and developers to have a vision, plan ahead, and create compact urban communities knowing it has long-term viability
- Attracting private investment to build new neighbourhoods and renew existing ones. Studies show that LRT supports local economic development and brings more shoppers to local businesses.
LRT will improve the quality of life by:
- Making Hamilton more accessible, LRT will be within 800 metres to almost 20 percent of Hamilton’s residents and employment
- Offering time savings calculated at $647 million a year for existing transit users, new transit users and auto users
- Offering competitive journey times and reliability
- Increasing passenger comfort
- Increasing public access to employment areas, residential properties, commercial districts and municipal services, increasing the connectivity and vibrancy of urban areas
- Connecting Hamilton’s priority neighbourhoods, as outlined in the Hamilton Spectator’s Code Red study, to more employment, educational, healthcare, recreational and cultural opportunities
- Encouraging healthier lifestyles
- Reducing collisions as a result of declining automobile usage with estimated savings of $18 million over a 30 year period
From “Funding Proposal: Moving Hamilton forward with LRTâ€, www.hamilton.ca/rapid-transit