There were two mentions of the Alberta Goverment’s High Speed Rail Report on myREINspace yesterday. You can read the official goverment press release here:
July 6, 2009
Alberta government releases report on high-speed railEdmonton… The Alberta government has released a report on a market assessment study of potential high-speed rail service in the Calgary-Edmonton corridor.
The study, commissioned at the request of the province, looked at the ridership, revenues and demand for high-speed rail service. It also compared the costs and advantages of four different high-speed train technologies.
While the report makes no recommendations regarding the feasibility of high-speed rail or future government involvement in such a project, it contains useful information and data that will assist the province as it considers various options for effective and efficient transportation in Alberta.“In keeping with our government’s priority of building the infrastructure Alberta needs for the future, we will continue to investigate various transportation solutions,” said Luke Ouellette, Minister of Transportation. “We have not made a decision on a high-speed rail project, however, this report is a good first step. We will continue to look at all options in order to support Albertans and the province’s economic future.”
A federal Standing Committee on Transport, Infrastructure and Communities is gathering information for its national study on High-Speed Rail in Canada. Alberta has been asked to provide the high-speed rail report to the committee, which will reconvene in September.
“We know the Calgary-Edmonton corridor is a key transportation hub and we are pleased to be able to provide this information for the committee’s review,” said Ouellette.
The report is made up of three components: Market Assessment of High Speed Rail Service in the Calgary-Edmonton Corridor; Market Assessment of High Speed Rail Service in the Calgary-Edmonton Corridor Technical Appendices; and Economic Benefits for Development of High Speed Rail Service in the Calgary-Edmonton Corridor. It is available on the Alberta Transportation website at www.transportation.alberta.ca/3940.htm.
The press coverage has been positive (CBC, Edmonton Journal) , and I’ve been a big fan of the idea for a long time now. Anyone who has been to Europe or Asia will know the power of a rail system like this. The Edmonton-Calgary corridor is the busiest route in North America….imagine being able to live in Edmonton and commute to work in Calgary.
If you’re a serious investor, go download all three parts of the report and read them. Success comes to those who go the extra 10%.
This article bring up a good point; that future urban planning might effect property prices. These potential changes to the urban environment should be something an investor takes into consideration when looking to buy into the Canadian real estate market. For example, imagine Calgary could potentially have large benefits for the Calgary real estate market and other change plans to improve the transportation network in the coming years.
Thanks Chris, you and your client might actually be interested in writing about REIN’s research on transportation effects, particularly for Calgary, their #1 city. Grab a copy of the report, it makes great material for blog posts.