New LRT line mixed blessing for nearby neighbourhoods
All depends on how close you are to the tracks, realtor says
With Edmonton embarking on another leg of the LRT, homeowners living along the yet unbuilt southeast line are wondering about the impact it will have on their property values.
"The person right beside the LRT, their property value is going to suffer," says real estate agent Abe Hering.
Those who live near the tracks, but not right next them, will likely see a boost in their property values, he said.
Hering said he's already had clients call him because they worry what an LRT line in their neighbourhood will mean for property values
'Without a doubt they do," he said. "Without a doubt, they wonder if they should sell their property before the LRT comes along."
The new line will be the city's second through a residential neighbourhood.
Belgravia, on the south side, was one of the city's first.
"Some people think it's an advantage because you take the LRT downtown," said Wei Yew, who has lived in the community for 32 years. "But if you're going grocery shopping, it's difficult to go in and out of this neighbourhood."
Still, he said, the addition of the LRT line has helped to push up the value of his home.
It was the LRT that helped bring V. Putkaradz to Belgravia about year and a half ago.
"Our gas bill is miniscule," he said.
He admits, however, the LRT makes it difficult to get around during certain times of the day.
"If you have to get out during the rush hour, it blocks all the traffic and I think that could have been improved," Putkaradz said.
The southeast LRT line is expected to be up and running in 2020.
With files from CBC's Scott Fralick