Strong Likelihood of Property Devaluation

A recent Clarkson University Study found that Wolfe Island's smaller wind turbines have   depressed home values by an average of 15%, with losses of over 20% within the statistical margin of error. Given Horse Creek's larger turbines, it is likely that property values in Clayton and Orleans, centrally located in the 1000 Islands, as well as property values in Brownville and Lyme in the Golden Crescent, would likely be devalued, perhaps to an even greater extent than properties near Wolfe Island.

"We see that parcels with a view of the turbines sell for a positive premium (approximately 10%) before the turbines are built, but that this premium is more than eroded by a strong negative impact after turbine construction.

The estimated coefficient of -0.164 that describes this effect implies a 15% decrease in property values for homes with a view after the turbines are built.

We also calculate a 95% confidence interval for this effect, which tells us that, given the observed data, there is a 95% chance that the true effect is a decrease of between 5.1% and 23.9%."

Source:
Nanos Clarkson University Research Collaboration
Project 2016-676, January 2016 / Section 2.2.3: Wolfe Island Results

All properties within the viewshed of the 40-story wind turbines would be affected. Property devaluation would not be restricted to waterfront homes. River RATs has received numerous reports from inland residents who are unable to sell their property due to the looming threat of Horse Creek. Given that the project would destroy the viewshed in all directions, all property owners risk losing substantial value in what for most people is their main asset.

Property Value Loss Examples

                                                        Location                Current                   After Wind Turbines

                                               Village of Clayton:        $200,000     drops by $40,000    to $160,000
                                                          Waterfront:        $400,000     drops by $80,000    to $320,000
                                             Large Island Home:        $1,000,000  drops by $200,000  to $800,000
                                               Outside of Village:        $120,000      drops by $24,000     to $96,000
                                                     100 acre  Farm:       $400,000     drops by $80,000     to $320,000                

 Photos: National Wind Watch © All rights reserved

Wolfe Island's smaller turbines built in 2011 (above right) have caused massive viewshed destruction, leading to significant property value decreases within the region. Turbines have decreased the permanent and seasonal interest in the area and hurt property and home values. Even with reduced prices, sellers find it increasingly difficult to find buyers who want to look at the turbines.

An offshoot from decreased real estate demand and property values caused by Horse Creek would be the negative impact on local contractors, tradesman, and suppliers who would see recent job growth fall off with fewer new construction and renovation opportunities.

Why risk the value of your home
for the poorly sited Horse Creek project?

Click to tell the Public Service Commission that the 1000 Islands is the wrong place for industrial wind!

Explore Further

2016 Clarkson Report Detailing Property Value Loss

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