accord1999
Active Member
I've seen estimates of property value declines of up to $160M.Elevated was taken off the table by adjacent land owners, who expressed that the 'tax shift' from downtown businesses to other businesses would be quite bad if their buildings were devalued further by adjacent elevated rail. This was in the 2016-17 context where that was a huge concern for the City. It is not a technical issue.
But as this twitter poster notes, given the likely difference in cost today between tunnel and elevated, it would probably be much cheaper just to pay off the property owners for that "loss". And to make up for it, charge an extra Green Line improvement fee on those areas where the property values are supposed to go up.