Frank_Lee
Active Member
With transportation infrastructure though in particular, one thing that's become increasingly well established academically is the massive directly economic externality capitalized in the land values near the infrastructure. This has been obvious at a pragmatic level since the days of the CPR, but it is unfortunate that thus far, no government has been able to devise a mechanism that would enable this to directly finance infrastructure expansion. An example that you can directly see on this website is the rapid increase in proposed and constructed development along the Eglinton LRT route. Some of the development is endogenously due to policies that relax zoning and permitting restrictions near transit corridors, but the underlying value of the land has dramatically increased too, not just the amount of built construction.




