Montréal Transit Developments

[waterloowarrior]

Wikipedia... where politicians saying

"How many dollars do we have invested in the 407 at the present time? As of March 31, the taxpayers of Ontario have somewhere around $104 billion. "

"I think this business plan clearly - and I've been assured by the minister that of this $104 billion or $107 billion that we have invested in this thing so far, if we don't get the money, he won't accept the deal. "

becomes

"The published $1.6 billion cost does not take into account more than $100 billion spent since the early 1970s acquiring the land that it sits on. [1]"

 

[LowerBay]

is that figure just for the land? with construction costs, what's the total?


how much did they sell the 407 for again?

Leased for 3 bill for 99 years.

 

[kettal]

It's pretty much like selling the brooklyn bridge for $2

 

[rbt]

Leased for 3 bill for 99 years.

I've often wondered why the "business like" conservatives didn't shoot for a 5% IRR (low by business investment standards but acceptable) at the time.

And yet, people get angry about the sponsorship scandal (up to hundreds of millions over 3 years).

Someone better at discounting can figure this out, but my thumbsuck effort pegs the 407 opportunity cost in the low trillions, if a 5% IRR was achievable.

Or was that 3 billion per year for 99 years? I'm pretty sure it was a single payment made in advance (single budget year), with no revenue sharing.

 

[Prometheus The Supremo]

what an absolute waste of money. had they spent that money on subway construction, every road in the GTA would probably be under capacity, those who take public transit would be happy, drivers would be happy, everyone would be happy and nobody would be complaining about traffic or inadequate service.

and to boot, all the auto-centric design of the 905 (including the 407) which forces people to use a car even to go to a corner store didn't even save the auto industry from its problems!

what a complete failure!

i still can't believe the figure is over 100 billion. this can't be real!

 

[rbt]

i still can't believe the figure is over 100 billion. this can't be real!

Me too. Buttonville airport is estimated to be worth $165M if they sold it off today. That's roughly $1M per acre.

 

[kEiThZ]

The real mistake is that they spent 100 billion acquiring the land. Who the hell spends that much on farmland? That too the acquisition period spans several governments. They should have had an inquiry into this and brought criminal charges against those officials who were buying the land.

 

[waterloowarrior]

The real mistake is that they spent 100 billion acquiring the land. Who the hell spends that much on farmland? That too the acquisition period spans several governments. They should have had an inquiry into this and brought criminal charges against those officials who were buying the land.

that's what wikipedia says..... not their source.

 

[kettal]

Ministers from the government at the time are on record saying it has been a $100 billion investment. It shouldn't be that big of a surprise, as the value of such infrastructure over the long term is more than $100 billion. Take Highway 401 for example, he's made himself into a valuable asset that is worth more than $100 billion to the province's economy. Same goes for the subway system.

The real absurdity is the ridiculous price 407 was sold at, and the lack of conditions.

 

[GenerationW]

Currently, crude oil is selling at $63 a barrel. There is an economist (Jeff Rubin) who is predicting crude oil could reach over $200 a barrel by 2012. With oil reaching those numbers, bicycle lanes and paths, GO Transit improvements, and Transit City better be going ahead of schedule so that those in the sprawling suburbs can get around. Staying with cars is not in the future.

Click on this link for a short video where

Who knows, maybe he'll turn out to be right, but I'm always leery of the-sky-is-falling!!! scenarios. Some people in the 1970's were also predicting that the world would run out of oil by the early part of the 21st century (i.e. NOW!!!). And the current global warming hysteria was preceded by a global cooling one (though nobody likes to bring that up).

Some of his other predictions:

Mr. Rubin had also projected in the fall of 2007 that "The subprime-mortgage meltdown in the U. S. is a temporary and non-lethal shock to the bull market in Canadian stocks." And he predicted that the TSE's main index would hit 16,200 by the end of 2008.

Naturally, he's currently promoting a book.

Fluctuations in the price of oil should not be primary reason to improve transit.

 

[golodhendil]

And the current global warming hysteria was preceded by a global cooling one (though nobody likes to bring that up).

The end of the current interglacial and a return to ice age coditions is still considered a potential end result of global warming. [/off topic]

 

[GenerationW]

The end of the current interglacial and a return to ice age coditions is still considered a potential end result of global warming. [/off topic]

And I could potentially be married to 12 supermodels one day.

 

[GTS]

Montreal is proposing constructing an LRT line that would connect the downtown with Old Montreal and continuing on Cote des Neiges Rd. until Jean Talon St. according to the Montreal Gazette. The proposed tram will run along Peel, De La Commune and Berre Sts. and then Rene Levesque Blvd and then take Guy and Cote des Neiges to Jean Talon Sta. This is some possible good news for public transit in Montreal. I hope this proposal becomes reality.

 

[Ansem]

Montreal is proposing constructing an LRT line that would connect the downtown with Old Montreal and continuing on Cote des Neiges Rd. until Jean Talon St. according to the Montreal Gazette. The proposed tram will run along Peel, De La Commune and Berre Sts. and then Rene Levesque Blvd and then take Guy and Cote des Neiges to Jean Talon Sta. This is some possible good news for public transit in Montreal. I hope this proposal becomes reality.

I'd love to see with what money...
I've lived there and the provincial government really doesn't care about Montreal. To become Prime minister all you need are the suburbs and countryside. Montreal may have 50% of Quebec population but they don't have 50% of the seats. That's why Laval got their subway and Longueuil will get (pending Approval) their extensions way before Montreal get the extension on the Blue line (they've been asking for it for over 30 years),unless all 3 city unite to get their extension

The LRT won't be part it.

 

[newuser2k9]

I've often wondered why the "business like" conservatives didn't shoot for a 5% IRR (low by business investment standards but acceptable) at the time.

And yet, people get angry about the sponsorship scandal (up to hundreds of millions over 3 years).

Someone better at discounting can figure this out, but my thumbsuck effort pegs the 407 opportunity cost in the low trillions, if a 5% IRR was achievable.

Or was that 3 billion per year for 99 years? I'm pretty sure it was a single payment made in advance (single budget year), with no revenue sharing.

so harris cut our education system, cut funding to new and much needed transit, but managed only to scrape 3 billion for this piece of junk? tremendous.