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Why is public transit important in Canada?
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Jan 4, 2024 · The accessibility of transportation is a key driver of property values. Properties near train stations, bus routes, and major highways often command a premium due to the convenience they offer. This “transit premium” is a recognized factor in real estate, reflecting in higher sales prices and rental rates.
Apr 20, 2021 · Transit-oriented communities are a key means of doing this. They co-locate housing, jobs, public amenities and social services near high quality public transit. This maximizes the public benefits that come from major investments in public transit.
Government initiatives fall short. In early 2023, the federal government announced Canada’s Rural Transit Solutions Fund would be accepting applications for capital projects. With $250 million over five years dedicated to rural communities, the fund eliminates competition with urban centres.
Nov 8, 2023 · Budget 2023 commits $394 million for the Ministry of Transportation and Infrastructure to purchase land near transit hubs for TOD Area development. In spring 2022, government amended the Transportation Act to enable the Province to acquire land for housing and community services near SkyTrain stations and transit exchange.
- Door to Desk
- Why Transit Accessibility Is Important
- Transit Expansions Mean Increased Value
- Distance-Based Transit Affects How Much You Can Afford
You can’t just consider distance between two places; instead determine the total time it takes from the moment you leave your home to the moment you sit down at your desk. Consider the following questions: 1. Is there heavy traffic on a certain thoroughfare between home and work? 2. If you’re not on a subway line, is the bus schedule frequent and c...
You may think of your commute as a chunk of time that’s inevitable and not important. While it may be easy to ignore your travel time as a priority, you should consider this:
If you know about a subway expansion or increase in service, chances are that real estate along that route is going to jump in price. Commuters will pay more to have easy access to rapid transit, which means there’s a premium on that access. It may be wise to buy near a confirmed transit expansion, to see significant appreciation when it’s finished...
If you’re taking transit in areas where you pay based on distance travelled, consider that your transit costs can justify buying a more expensive home to be more central. For example, let’s say you’re looking between homes for sale in Pickering, Ajax, Whitby, and Oshawa in the GTA, and you take GO Transit, a system that costs more the further you t...
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Jun 7, 2024 · Public transit gets Canadians to where they need to be, creates new Canadian manufacturing and construction jobs, reduces pollution and congestion, makes life more affordable, and keeps Canadians and communities connected as they grow.
Apr 19, 2018 · Vancouver’s transit ridership has historically been higher than many comparable regions as a result of decades of transit-friendly land-use and transportation policies, including an early regional goal to foster density only around the frequent network.
