affidavit when she gave her affidavit evidence. In response,
Icona submits that it was not necessary to contact owners of
neighbouring properties in order for Ms. Hicks (and Mr. Given) to give their opinions.
 274 Canada submits that Ms. Hicks’ evidence should be
given no weight.
 I accept that Ms. Hicks is an experienced professional
appraiser who is qualified to give opinion evidence in relation to
the value of land, including commercial and retail properties.
Icona did not ask Ms. Hicks to give a professional opinion of the
values that the 274 lands or the subject site would have in hypothetical circumstances where ( i) Icona’s proposed redevelopment
proceeds as planned; and ( ii) the restrictive covenants are discharged, in comparison with their current values. By limiting her
opinion to one of “a relationship, not value”, Ms. Hicks was not
required to satisfy the rigorous requirements set out in Rule 6 of
CUSPAP that apply when an appraiser is giving an opinion of
value for real property.
 In addition, I regard the opinion given by Ms. Hicks in her
affidavit to be largely conclusory, with little analytical support
shown in her affidavit for her conclusion, and with little explanation of the process that she followed to arrive at her conclusion.
The key passages in her affidavit are paras. 9-14, that I have
9. I have considered the details of the Proposed Development, the value added
to the Subject Site and the implications, if any, for adjacent lands. I conducted
a site visit on November 17, 2017, to better understand the existing condition
of the area. I have reviewed the following locations, where intensification
increased adjacent land values, in the course of my consideration of the
impact to value of the Proposed Development: (a) East Beaver Creek, Richmond Hill; and (b) Kennedy and Highway 401 — Delta Hotel, Scarborough
10. In my professional appraisal opinion, the Proposed Development of the
Subject Site will have no adverse effect on the value of the Respondents’
Lands. Further, in my professional appraisal opinion, the Proposed Development of the Subject Site most likely will result in betterment, or enrichment,
to the values of the Respondents’ Lands.
11. Particularly, the built form of the proposed mixed-use development will provide highly visible at-grade retail uses along Highway No. 7 and Interchange
Way (where the entrance to the retail is located), creating a clearly visible entry
point to the building. In terms of building materials, the proposed redevelopment will integrate glass and various stone materials in order to create an
aesthetically pleasing façade and podium structure along the frontage of Highway No. 7. It is my opinion that the proposed mixed-use redevelopment is
aesthetically attractive and will incorporate high-quality materials.