Metro LRT line to finally open in Edmonton

Mainstreet-Equity-LRT-yeg-review

Metro LRT line to finally open in Edmonton; connecting MEQ properties, NAIT, MacEwan, Connor McDavid, and Ice District to existing north-south line

It’s official. The City of Edmonton’s Transportation Services Department finally announced that the long awaited Metro LRT line to NAIT will open for service on September 6th. Fortunately, the much delayed opening of the extension from Churchill Station in downtown Edmonton will be just in time for the beginning of classes at NAIT and MacEwan University on September 8th.

 

Mainstreet-Equity-Ice-District-Edmonton

 

Although the line is still not fully operational, its official opening comes as much relief to local residents and business owners, as delays over the past year have placed significant pressure on traffic congestion and parking in the area.

Trains will operate at 25km/h, which will allow LRT service every 15 minutes between Churchill Station and NAIT Station, with travel time between the two of 14 minutes. The City plans to add an extra train to the existing Capital line, diverting every third train to NAIT. However, until the system is fully operational, this will result in a 17% loss of capacity on the Capital line, which runs from Churchill Station in the south, to Clareview Station in the north.

Project Highlights:

  • – $665-million project
  • – 3 km extension from Churchill Station
  • – First segment of a planned expansion to city limits neat St. Albert
  • – New stations at Grant MacEwan, Kingsway/Royal Alexandra Hospital, and NAIT
  • – Expected to add 13,200 weekday riders to LRT network
  • – Max speeds of 50 km/h when system fully operational
  • – Travel time will between Churchill and NAIT will be reduced to 7 minutes

Mainstreet has built a portfolio of strategically clustered properties that will directly benefit from the expansion of the new Metro LRT and increase the desirability of more than 100 Mainstreet buildings. With 89 properties located just north of the Ice District, and an additional 14 properties located on the north boundary of NAIT, Mainstreet tenants will now have improved access, allowing for easier and quicker transportation to destinations throughout the city.

Mainstreet Equity Corp. is a publicly traded (TSX: MEQ) residential real estate company in Canada. Mainstreet currently owns and operates properties in Surrey, BC; New Westminster, BC; Abbotsford, BC; Calgary, AB; Cochrane, AB; Lethbridge, AB; Edmonton, AB; Fort Saskatchewan, AB; and Saskatoon, SK.

Mainstreet provides affordable, renovated apartment suites to Canadians, and is committed to creating real value without diluting shareholder interests.

About the Author
Graham Coe

Graham is responsible for market research, identifying accretive buying opportunities, and facilitating the acquisition of new assets.

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