TheBulletin.ca Journal of Downtown Toronto
Porter’s latest attempt to prop up its flagging jet proposal is contrary to academic research on property values. International studies clearly show that real estate values are negatively affected by jet airport operations and flight paths.
“Academic research is crystal-clear that property values suffer from jet operations,” NoJetsTO chair Anshul Kapoor said. “Deluce is desperate to sell his failing jet plans – now he’s wheeling in his buddy Brad J. Lamb.”
Research from the US and Europe shows that property values take a hit of 4% to 15% due to jet airports or expanding an existing airport with jets. Property values in a radius of 7.5 km from jet operations can be affected – including flight paths.
“Jets on Toronto’s waterfront risk putting a dent in property values for countless real estate owners,” Kapoor continued. “People bought houses and condos from Mimico to the Bluffs with a regional, boutique airport in place – not a Pearson-on-the-Lake.”
Deluce plans to double passenger numbers at the Island Airport to 4 million and more. This would increase traffic going to Queens Quay by 1.4 million cars.
“The City has to examine the property value aspect in a scientific way as part of the jet review,” the NoJetsTO chair concluded. “Claiming jet pollution and increased downtown gridlock from 1.4 million more cars won’t affect prices is ridiculous.”
For more details and links to international studies, click here.
NoJetsTO is a coalition of concerned citizens dedicated to preserving Toronto’s mixed-use waterfront and a boutique Island Airport. Representing residents across Toronto, the non-partisan organization NoJetsTO opposes the expansion of the Island Airport through jet aircraft and extended runways. NoJetsTO’s goal is to preserve the status quo at the Island Airport by protecting the Tripartite Agreement that governs it.
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For more information, please contact:
Gautam Malkani, NoJetsTO Media Coordinator, 647-406-0984 or media@nojetsto.ca
