In the Ontario region a vital public transport shakeup has been highly expected by the public since 2007. GTA will largely benefit from the ‘MoveOntario 2020’ project. This 12-year plan comprises of 52 transit proposals including the expansion of various subways, train, and bus lines and selected highways. From the real estate perspective this reorganization will ultimately have some real decisive effect on the real estate demand in the affected regions, alongside with the environmental consequences on the life of Torontonians.Advancing real estate values Working out how real estate prices are estimated is complicated but the most important variables when calculating property prices is accessibility. A railway station near a property has been shown to elevate the value of the property. A comparison was made in Portland between houses within a 500m range of a light railway station and those located further away. The houses nearer the station sold for 10% more. Within a recorded half-milearea of new stations there will be a positive growth in property prices. Air quality: a clear environmental impact. Harmful segments of exhaust gases poison our bodies. Long term these gases cause serious disease and possibly premature death. The respiratory (lungs) and cardiovascular (heart & veins) systems are among the most afflicted. Pollutants and fine specks enter our body as we breath. As air is not pure these specks stay in our lungs causing aggravation and in some cases irreversible damage. Respiratory ailments such as asthma, bronchitis and chronic respiratory disease can be caused by toxins in the air. It can lead to blood clots, heart attacks and a curtailed lifespan. Toronto air pollution accounts for approximately 1,700 premature deaths each year. What about the drivers? It is believed that this shake-up plan will cut approximately 300 million car trips, which in turn will reduce the greenhouse emissions. Cleaner air solution? Does it work? Day to day drivers must not be forgotten, but this project aims to pin point on the public transport system. This includes railways, bikers and pedestrians encouraging people to use these modes of transportation. A Torontonian motorist will spend approximately 67 hours stuck in traffic jams every year. Despite different means of transport a congestion study shows that in 20 years cars will still form 70% of all journeys in Toronto. (Source: http://www.hastebc.org/haste-news/torontos-war-cars). For instance, I know for sure that the majority of my colleagues working in Toronto real estate will never give up their cars no matter the cost or availability of public transportation. Project to improve air conditions must showplans to cut out congestion and improving traffic flow in general as exhaust gas is higher when traffic is stop-and-go. Finding ideas from plans made by Israel or Denmark may be the way to go. These countries decided to heavily promote electromobile vehicles by exemptions and by building a vast network of charging stations throughout the country. GTA should not rely solely on improving the size of the public transport system. It has to answer the requirements of those who chose cars as their main means for transportation.
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