Study takes a look at the Economic Implication of Proposed Real Estate Project
A recent study conducted by Juste Rajaonson of Universite du Quebec, Montreal Department of Urban Studies and Tourism shows that the new proposed real estate project to be undertaken in western Pierrefonds poses a threat on the environment and economy.
The proposed project is expected to bring about the construction of over 5,000 new homes on 185 hectares in Western Pierrefonds. The proposed site includes wetlands, wet meadows, forests as well as numerous types of rare birds and wildlife. The construction on homes on the land will be hindered by wetlands in the vicinity.
The project will also affect the financial cost of taxpayers as takes will be added upon to facilitate the public coat of infrastructure, drainage of wetlands and other related costs.
Furthermore, the federal governments account will also decline as an increase in costs of development of new structures, maintenance, equipment and other public services are added.
The study also highlights the hypothesis that new development projects always have a net economic benefit.
It has become a common fact that development projects imply added taxes but this should not be taken for granted according to Alison Hackney of Sauvons l’Anse-à-l’Orme. The project will bring in more people and cars to the area and then the cost can be determined.
There will also be an additional cost to create drainage to maintain the wetlands. Building structures on wetlands means heavy tax for taxpayers.
It would have been less expensive if the project was to be on a land that already has municipal utilities such as water, sewer and power in addition to an area where residents will be able to access basic social amenities.