Eglinton Scarborough Crosstown (ESC) LRT Real Estate Study
Metrolinx / planningAlliance
Financial Feasibility Analysis
The Provincial Transportation agency, Metrolinx, is working with the City of Toronto and the Toronto Transit Commission to deliver a new modern, Light Rail Transit (LRT) service along the Eglinton Avenue corridor between Black Creek Drive and Scarborough Town Centre. The introduction of new high order transit services will bring an important new amenity to many areas of the City. This new demand will likely have a significant bearing on the real estate market surrounding the line, especially near transit stations.
The objective of this study was to assess the opportunities for real estate development at future stations and quantify the market and financial opportunities. The NBLC study examined four prototypical stations, differing in market context, development patterns and land use planning permissions, and provided:
- The value of the station properties from a real estate perspective;
- Potential development scenarios and an analysis of their feasibility; and,
- Commentary on various land procurement strategies that could be employed at station redevelopment sites along the ESCLRT corridor.
An ongoing component of the study includes a market and financial analysis of the retail potential at the future station locations along the ESCLRT corridor.