Quote:
Originally Posted by twoNeurons
You wouldn't be gifting it to them. You maintain ownership of the completely separate ROW and put HSR on it, leasing out track rights to run HSR. BNSF leases the track and sells the waterfront property for expensive waterfront housing.
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Just to be clear, there is
no waterfront housing potential for the BNSF land in White Rock.
After leaving the border, the ROW passes through Peace arch Park then through a reserve. If the tracks were removed, the land in the reserve would probably be gifted back to the first nations there.
Then it passes infront of East Beach, which is public beach access and parking. I don't think the businesses there would want access lost due to it being buildings.
Then there is a steep cliff between East and West beach you can't build infront of (which is also beach access). Then it's West Beach which would be even more against losing public amenity space for luxury condos.
The people want the tracks gone to improve beach access (all this talk about safety is just a runaround to free up land for more park). There is no way the people and businesses would be good with trading their waterfront park and parking for homes they don't own. Not only is it losing public amenities that make the businesses there barely survive as it is, it would instantly drop the values of the properties behind the new properties by a million dollars each.
Then from there it's all cliff side. There would be barely any room for homes, let alone a road for access to those homes. And the cliff isn't 100% stable, so good luck getting any multi million dollar boat access only home a permit.
Crescent Beach is the only place you can build homes on the ROW. You can build homes across from the ones on Bayview Street.
There are about 35 homes on Bayview. Each one has an average BC assessed land value of under $800,000. So even if you could sell 35 properties for an average of $1 million...
That's a whopping $35 million dollars. Maybe if they are a bit bigger than average or you sub divide it more, and the market improves, maybe you are looking at a payday of $50 million. Woohoo!
I don't think that's worth the billions it would cost to move the rail line.