Altus Group Research Valuation and Advisory (RVA) was retained by the City of Toronto on behalf of Metrolinx under a multi-year contract to conduct research and valuations for property acquisition and potential expropriation purposes along Eglinton Avenue in mid-town Toronto. The Province of Ontario, through its wholly owned regional transit agency Metrolinx funded a multi- billion Light Rail Transit project which runs above and below grade from Black Creek Drive in the west to Kennedy Station in Scarborough in the east and comprises a total of 19 kilometers.
Initial work included a land value benchmark study to estimate a range of values for a specific section of the route and various different land use types. Subsequently Altus was engaged to complete land and building valuations for various properties around key station sites. The main challenge involved the very diverse Highest and Best Uses of the lands along a busy urban arterial corridor.
The research studies and valuations provided the client with accurate, defensible property valuations that enabled the client to commence acquisition in a timely manner.
Research comparable land sales; Land Value Studies; Various land and building valuations; Findings presented to the City in narrative appraisal reports
Altus Group was retained under a Master Appraisal Contract running from 2011-2016.