Tuesday, June 17, 2008

Rail Advantage

One advantage of rail over buses is that the former has a degree of permanence which can potentially spur development along its corridor. With a lot of luck planning authorities will encourage the right kind of development with relatively high density, pedestrian friendly around stations, much lower priority for parking, etc...

Light rail is six months from operation, but the transit system's impact on the Valley's real-estate market has been in full swing with new condos, office buildings and mixed-use developments rising throughout metro Phoenix.

Transit officials estimate that since 2004, developers have spent close to $6 billion on public and private projects on and around the future light-rail line.