Land Value - Lane Parcels in New Edinburgh

[David Mennier]

Good evening, friends and neighbours, 

We are now five days past the voting deadline for block owners to indicate their intention to support an application to close the lane. I still do not have all the votes, but I would ask for everyone's patience as I do feel it is in our collective interest (and of the process itself) to have all owners indicate their position. 

Of the six missing votes, I know that three families are trying to make a decision, and two property owners of multiple-unit buildings (who do not reside in the area) need to discuss the vote issue with their partners. I am sure we will get all votes soon, with perhaps the exception of the owner on the corner of Bertrand and Ivy, who has gone south for some respite from the Ottawa chill.

While we await for the the final votes, I do have some key information from the City which I just received this afternoon. 

Please see the original information (below) from the Realty Services branch of the City of Ottawa.

As we all know, land value has steadily risen in our neighborhood, and the City has given a reference of $65 per square foot for rear lane parcels.

As a example, let's look at what this might mean for my family if we submit an application to close the lane (and it is successful):

    87 Vaughan Street

    Lot size:  33 ft x 96 ft

    Size of parcel of lane land to purchase: 33 ft x 6 ft = 198 sq ft (approx.)

    Cost to purchase:198 x $65 = $12,870 (est.)

    Cost of new survey: $1200 (est.)

    Cost of group application fee: $300 (est.)

    Total cost:  $14,370 (est.)

As you can see, it is a significant amount of money, but it also represents a re-investment in New Edinburgh property, which has enjoyed steady and significant growth.

As I noted in my email earlier this week, once all votes are finally in, I will contact everyone again to confirm for a final time all the Yes voters' commitment, and then come to collect the application fee shares. 

Note also that if we submit an application and if it is successful (to close a portion of the lane),  then each owner would be responsible for dealing with the Realty Services branch to finalize details on each parcel purchase; as Chair of an ad hoc neighborhood committee, I am not in a position to represent individual property owners. Of course, I would be pleased to continue to deal with the City and our block group on common and practical concerns on this issue.

All the best, and I will write again soon,

David Mennier

Chair, Block Residents' ad hoc Laneway Committee

87 Vaughan Street

Begin forwarded message:

From: "Flay, Howard" <Howar...@ottawa.ca>
Date: 25 January, 2013 2:33:04 PM EST
To: "'men...@hotmail.com'" <men...@hotmail.com>
Subject: Request for Information - Land Value - Parcels in New Edinburgh

Based on an investigation of several property sales within in the subject neighbourhood, it would appear that unencumbered land values are in the $130 to $135 per square foot range. 

However, after discounting that value range to account for the presence of utilities either with, or with the need for easement rights within the subject lane, a rate of $65.00 per square foot has been judged appropriate. 

Accordingly, any sale involving the subject lane will be based on a rate of $65.00 per square foot or $700 per square metre.

I trust this will allow you to decide whether or not you wish to proceed.

[Kathryn Verey]

Hi all,

Just forwarding David's message from Friday as it contains pertinent information that would be of interest to the neighbours who were just added to the email list tonight.  More votes are in - now just awaiting one of the multi-unit properties and one family on Ivy.  

Best,

Kathryn

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[David Mennier]

Good afternoon, neighbours,
 
 
I am writing again to appeal for your patience. By this time, I wanted to share with everyone a map with all 'Yes' and 'No' votes, but we are still awaiting one final vote. It is for the duplex on Ivy, numbers 143 and 145 (though it is actually one lot and therefore one vote).
 
It is a complex situation and I have been in communcation with the owners' representative; we should have an answer soon.
 
As this double lot is right in the middle of the block, it is a key vote and there is not much point in going forward with the application to close the lane without this information. As soon as I get this vote, I will distribute the block map with all votes shown, so owners can have another chance to reconsider their vote based on the collective voting of their fellow owners.
 
Thanks for your patience!
 
By the way, if anyone missed the laneway story in the latest issue of New Edinburgh News, here it is:
http://www.newedinburgh.ca/sites/default/files/NEN/2013_FebNEN_web.pdf 

Besides the story, there are great illustrations by Martha Markowsky.  Thanks Martha!
 
 
Regards,

 

David Mennier

Chair, Block Residents' ad hoc Laneway Committee

87 Vaughan Street

 

Subject: [laneway] Land Value - Lane Parcels in New Edinburgh

From: men...@hotmail.com
Date: Fri, 25 Jan 2013 21:35:02 -0500
To: lan...@googlegroups.com