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.
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...