// Damnit Richmond!
The City of Richmond has completed an agreement with Canadian Pacific Railway to purchase the west leg of CPR's Van Horne Spur line.
The purchase includes the railway corridor extending from No. 2 Road to Sea Island Way in northwest Richmond and includes approximately 13 acres in land
"The acquisition of this corridor will allow us to build the next link in critically-needed new road works to service our City Centre," said Mayor Malcolm Brodie. "We will be able to improve traffic flow throughout central Richmond and achieve our goals of linking the City Centre to the waterfront. It will also enhance the viability of the Richmond Oval, a significant part of our long term strategic vision for the City. We want to salute CPR for their support in helping us make this vision a reality."
"We are pleased to have been able to support the City of Richmond in its long-term planning initiatives and its participation in the 2010 Olympic Winter Games," said CPR President, Fred Green. "A successful outcome like this occurs when people work together. CPR encourages this approach in every community in which we operate and our employees live and work."
CPR is now in the process of removing the section of track between No. 2 Road and Gilbert Road. This process is expected to be completed in about six weeks. This will allow the City to proceed with construction of a realigned section of River Road, running from No. 2 Road to Hollybridge Way, which is scheduled to open this summer.
The acquisition will eventually allow the City to proceed with construction of a new North Loop Road, a vital part of the City Centre ring road network and Richmond"s long-term transportation strategy. The North Loop Road will be a new arterial road, which will become a major link in the City Centre road network, improving traffic flow throughout the downtown and replacing River Road as the primary bypass for crosstown traffic travelling from West Richmond to or through City Centre North.
The purchase price reflects market value and includes $14.2 million in cash payable over two years. In addition, CPR will receive a donation receipt for $6.7 million with a further donation receipt later to reflect the value of tracks and other materials covered under the agreement.
Construction of the North Loop Road is expected to proceed in phases over the next several years. As new owner of the spur line, the City has contracted CPR to continue to maintain and operate portions of the Van Horne Spur as a private siding up until 2010 in order to provide continued service for an existing rail customer.
I will be using the blog to update me, and other rail fans to see Richmond dismantle history. You don't know how incredibly sad this truly makes me feel... you honestly don't...
Breaks my heart.
0 Comments:
Post a Comment
<< Home