2 new subway stations and downtown next to me

[Khaled Majouji]

Hey all,

Here's my situation, I have a triplex as some of you already know, I bought it 3 years ago, it's now worth around 420k and I have 154k left on my mortgage. I had a pretty nice leap in value last year when 2 new subway stations were completed at a 2 minutes walk from my place, connecting the up and coming suburb where I am with downtown in the big city in 30 minutes. The direct subway stations areas haven"t changed much but the city has put forward a plan to stimulate construction of some 900 units at one of the stations, and the other one has about 700 units wich will be developped next year

Now the city is starting to build a new City of Knowledge" wich is basically going to be University campuses and Education facilities for a few blocks, and all that is beeing built about 500 meters from my building. I am also about 500 meters from what they call the new "downtown" and investments overall have been exploding in my direct area (keep in mind this is a city of about 375 000 souls so it's definitely not NYC type of downtown but it's still a MAJOR change compared to what has happened in the last 20 years or so)

I am curious as to what all these changes will bring me in terms of property appreciation?

I was also wondering if the presence of effective public transportation 2 minutes away will influence the price upwards more, with gas prices as they are (we pay close to 6$ a gallon here) and looking like they will keep on going up.

Average appreciation for the past three years has been around 7-8% for areas with nothing special happening, I've seen about 15% year on year for the 3 years I've owned this place. Does anyone think this is sustainable growth considering the conditions I have talked about earlier? I am really eager to get other people's opinions on this, I constantly think about it but there just seems to be so many variables to this whole situation.