City of Vancouver buys Arbutus Corridor for 55 Million

[inane]

http://www.metronews.ca/news/vancouver/2016/03/07/vancouver-buys-arbutus-corridor-from-cp-rail.html

 

 

Quote

 

The City of Vancouver has finally reached a deal with Canadian Pacific Railway to buy the Arbutus corridor for $55 million, more than double what the city previously indicated it would pay but far less than what CP demanded for the prime, west side real estate that the city intends to develop into a green transportation corridor.  

The city and CP held a joint press conference Wednesday to announce the deal for the nine-kilometre line from Milton Street to 1^st Avenue after more than a decade of failed negotiations and legal battles.

“Thanks to this landmark agreement, the city will be able to transform the area into an outstanding greenway and connect neighbourhoods from False Creek to Marpole,” Mayor Gregor Robertson said in a statement. “This is a once-in-a-generation opportunity, not unlike New York’s High Line and other international examples.”

“We are pleased that today's landmark agreement allows the city to create a transportation corridor and greenway while providing a fair return to CP and our shareholders,” CP President Keith Creel said in a statement.

Robertson previously indicated the city would pay in the ballpark of $20 million for the property. Meantime, CP said the property was valued at more than $400 million but that it was prepared to accept $100 million.

The final deal includes a profit sharing clause should the city sell any of the land in the future. If it does, CP will get 75 per cent of the first $50 million, half of the second $50 million and a quarter of the third $50 million. The city has repeatedly promised the land will only be used as a transportation corridor.

CP hasn’t run trains on the line since 2001 when it lost its last customer, the Molson Brewery. As the city and CP tried – and failed – to negotiate a price for the city to buy the land, pedestrians, cyclists and community gardeners started using the tracks as a greenway.

CP didn’t seem to mind until 2014 when the railway bulldozed the gardens and spent $1.3 million on plans to restore the tracks to use for railcar storage.

 

 

Great buy. City says it will be a multi-purpose with some rail connection and some bike/pedestrian. 

[taxi]

Good job by the City here and a very good price. I have to admit I had my doubts that the City had kyboshed the deal with their lowballing, but it looks like it paid off.

[inane]

A visual look at the ultimate plan. 

[taxi]

1 minute ago, inane said:

A visual look at the ultimate plan. 

Are they going to have some kind of safety barrier between that rail line and the bike/pedestrian paths? Neat concept, but the real thing won't be nearly as aesthetic and will most likely feature a large fence. 

 

This is also Vancouver, so an open and public space is likely to attract a bunch of vagrants and drug users.

[inane]

1 minute ago, taxi said:

Are they going to have some kind of safety barrier between that rail line and the bike/pedestrian paths? Neat concept, but the real thing won't be nearly as aesthetic and will most likely feature a large fence. 

 

This is also Vancouver, so an open and public space is likely to attract a bunch of vagrants and drug users.

Yeah, this is big picture conceptual. I'm thinking that rail line will be like what was between science world and granville island during the olympics. It'll need some kind of fence or barrier, but nothing like skytrain.

[Provost]

Good idea on the profit sharing of any developed land, that was a huge sticking point.  CP was rightly concerned that the city would buy it at a really low price for a transportation corridor, and then zone big chunks as residential and make a killing on the increased value.

[thejazz97]

30 minutes ago, inane said:

A visual look at the ultimate plan. 

That's cool. Wish SK had something like this.

[khay]

30 minutes ago, inane said:

A visual look at the ultimate plan. 

Nice! It's going to make biking to downtown even easier for me as I live near Arbutus corridor. Looking forward.

 

[taxi]

25 minutes ago, inane said:

Yeah, this is big picture conceptual. I'm thinking that rail line will be like what was between science world and granville island during the olympics. It'll need some kind of fence or barrier, but nothing like skytrain.

If you look at the areas adjacent to rail lines in any other city, they're nothing like that picturesque scene.

 

Clearly, propaganda to sell the idea to the people living along the line. Still something the city desperately needs though. 

[Ghostsof1915]

48 minutes ago, taxi said:

Are they going to have some kind of safety barrier between that rail line and the bike/pedestrian paths? Neat concept, but the real thing won't be nearly as aesthetic and will most likely feature a large fence. 

 

This is also Vancouver, so an open and public space is likely to attract a bunch of vagrants and drug users.

Maybe because people aren't completely useless. Toronto has had the red car for decades, Vancouver used to have real trolleys too. 

 

 

 

[Ghostsof1915]

When you drive your car, do you need a barrier for the vehicle in the other lane? The problem is too many people think they are more important that everyone else and tries to butt ahead. Look both ways and you don't get hit. Guess that's asking for too much huh?

[taxi]

10 minutes ago, Ghostsof1915 said:

Maybe because people aren't completely useless. Toronto has had the red car for decades, Vancouver used to have real trolleys too. 

 

 

 

The streetcars in Toronto run in the street....not in the middle of a walking and bike path. In that scenario it would be only a matter of time before someone stepped in front of a train.

[taxi]

6 minutes ago, Ghostsof1915 said:

When you drive your car, do you need a barrier for the vehicle in the other lane? The problem is too many people think they are more important that everyone else and tries to butt ahead. Look both ways and you don't get hit. Guess that's asking for too much huh?

The road is clearly marked and used only by cars, and, yes, cars hit each other all the time. The difference is when a car hits a car, it's not nearly as horrific as a train hitting a pedestrian or bicyclist.

[Ghostsof1915]

20 hours ago, taxi said:

The road is clearly marked and used only by cars, and, yes, cars hit each other all the time. The difference is when a car hits a car, it's not nearly as horrific as a train hitting a pedestrian or bicyclist.

Maybe if people would assume responsibility for driving, walking, cycling and take care in attention to what they are doing there would be less accidents. Look at the video clips trolleys were right on the road. Once you understand things like yielding and right of way its pretty easy. Yes there's accidents. There's also accidents in automated systems.

 

[ckamo]

I don't know guys, I just assumed that the tracks wouldn't be in use and the picture leaves it in there because it's a heritage landmark type of thing. 

 

By "rail connections", I guess that could mean it will connect to the Canada line/a new subway line eventually?

[inane]

32 minutes ago, ckamo said:

I don't know guys, I just assumed that the tracks wouldn't be in use and the picture leaves it in there because it's a heritage landmark type of thing. 

 

By "rail connections", I guess that could mean it will connect to the Canada line/a new subway line eventually?

The tracks are getting pulled regardless cause they're old and need replacing anyway. Whether or not the city puts trains back in....We will see. 

[falcon45ca]

Wow. $55M for 9 kilometre stretch of land in Vancouver?

 

That seems like a huge bargain. 

[riffraff]

22 hours ago, taxi said:

Are they going to have some kind of safety barrier between that rail line and the bike/pedestrian paths? Neat concept, but the real thing won't be nearly as aesthetic and will most likely feature a large fence. 

 

This is also Vancouver, so an open and public space is likely to attract a bunch of vagrants and drug users.

Could only help to improve cyclists evasion skills by not building a barrier beside the tracks and allowing the riffraff to loiter about.

 

 

[riffraff]

2 hours ago, ckamo said:

I don't know guys, I just assumed that the tracks wouldn't be in use and the picture leaves it in there because it's a heritage landmark type of thing. 

 

By "rail connections", I guess that could mean it will connect to the Canada line/a new subway line eventually?

I would think the tracks would be pulled or covered to prevent a hazard for the cyclists.  A wheel could get get snagged in a track rut

[falcon45ca]

6 minutes ago, riffraff said:

Could only help to improve cyclists evasion skills by not building a barrier beside the tracks and allowing the riffraff to loiter about.

 

 

I see what you did there, shouldn't announce your plans so early!