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.
Source:
Nanos Clarkson University Research Collaboration
Project 2016-676, January 2016 / Section 2.2.3: Wolfe Island Results
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
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?
for the poorly sited Horse Creek project?
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