Impact of LRT – Mississauga real estate will stay strong!
Hurontario LRT Project Receives Full Provincial Funding Promise
City of Mississauga believes that there will be a positive impact of LRT as the province of Ontario is moving ahead with the Hurontario-Main Light Rail Transit Project. It is by far the largest infrastructure project in the history of Mississauga. In the words of Mayor Bonnie Crombie: “The Hurontario LRT will be transformative and move Mississauga forward, allowing us to grow our economy, create jobs, and develop in a way that will keep Mississauga competitive for generations to come.”
Impact of LRT on public transit and connectivity
The Hurontario-Main LRT Project is a provincially-planned light rail system, designed by the Cities of Mississauga and Brampton with Metrolinx. This Light Rail Transit system will span over 23 km, with 26 stops serving Mississauga and Brampton and including stops in the downtown Mississauga City Centre.
Impact of LRT on Mississauga Real Estate
Preliminary assessment studies of transit needs were completed as early as 2010, and in 2012, I had written a post on Light Rapid Transit in Mississauga, announcing the project open house at the Civic Centre. Construction is expected to commence in 2018, and the line is projected to enter service in 2022. So what does this all mean for Mississauga housing?
Certain hubs that have LRT stops or stations will see a growth in home and condo prices as a direct impact of LRT on Mississauga real estate. Hurontario corridor and Mississauga City Centre ( Square One area) being the prime areas benefiting from the presence of LRT.
LRT is an affordable solution, no doubts, but critics (and I agree) feel that LRT will cause traffic congestion on busy Hurontario Street. Perhaps an underground Subway to Kipling Station would have been a better option.