Quote:
Originally Posted by Zarley
Commercial development is higher value than residential and thus yields more tax revenue. If this development can attract a greater degree of office and retail development, it might produce more revenue for the City than the former West Village plans.
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That's an interesting point. If the project goes through, land along the CPR tracks (facing eastbound Bow Trail) will immediately become a prime location for commercial development. That wouldn't be the case if the West Village were primarily a residential area. Of course, the lands along the tracks will not be used for residential development in any case; so their entire value depends on how attractive the location is for businesses.